There was an idea prevalent back then that the tools used for reloading needed to be as heavy and rigid as the machinery in the factories that made the cases and bullets and loaded the ammunition in the first place. Light-duty reloading tools like the tong tools and the light bench tools were thought to be lacking in the stoutness, nuance and je ne sais quoi needed for the ultimate "straight-line" precision that made truly accurate ammunition. This, of course, was nonsense, but tools like the Hollywood, the Schmitt, the Jordan and the Easton Big Giant were for those who cottoned to this notion. They were very expensive, and not for the casual reloader. He had to wait until the Pacific "C" Tool came along, which had all the rigidity anyone needed for reloading, and was affordable as well.
Unlike most of the other heavy duties, Hollywood incorporated a design aesthetic into their tools, for further appeal to the carriage trade. They also had the sense to use the 7/8"-14 dies Pacific developed for their "C" Press, so they continued to be useful, while the other designs drifted into obsolescence.
So it's like collecting Duesenberg cars: they were top of the line when new, they look cool, and you can still run them if you wish. I myself find the three-position sector tool more user friendly than the big turret jobs, which are kind of tiring to spin around.