There are times I want to try to compile code changes but not deploy those changes. For instance, if I'm hacking the Asterisk C code base, and I want to make sure the changes I'm making still compile, I'll save and run make. However, I don't want to deploy those changes because I'm not done coding.
For me, running make is just a way to make sure I don't end up with too many compile errors in my code to where I have trouble locating them. Perhaps more experienced C programmers don't have that problem, but for me, limiting the number of changes between compiles helps reduce the number of possible changes that may have completely trashed my build, and this makes debugging easier.
Lastly, this also helps give me a stopping point. If I want to go to lunch, I know that someone can restart the application in it's currently working state without having to come find me, since only make install would copy the binaries over to the actual application folder.
There may very well be other reasons, but this is my reason for embracing the fact that the two commands are separated. As others have said, if you want them combined, you can combine them using your shell.