The question is why, if your nitrates aren't sky high, would you want to change more than 50% of the water at once?
That's a good question. The answer is that nitrates are not the only reason to change water. There are other organic compounds to keep low and there are minerals to replace as they are used by plants, algae, fish metabolism, etc. Also, as noted by others above, some fish respond to such water changes by taking it as a cue to spawn, whether this is due to difference in water quality, minerals, or simply a temperature change that mimics changes in their natural environment.
But, again, how much water you need to change to maintain water quality and how much you
can change safely can be two different things. And then it comes down to personal philosophy, opinion, or preference. Everyone has their own approach. Personally, what I do varies from one tank to another, based on a variety of things, including having developed an eye for water quality after many years, at least in my own tanks. I have one tank that I typically change 30% each week and nitrates are low, reading about 5. I have another tank I typically change @70% each week, more to do with inhabitants and effect on behavior/spawning than a requirement for water quality. I have certain times of year in my area where my well water doesn't look so good and I'll change water less frequently and less volume.
My whole thing with water changes is and always has been there's no one-size-fits-all formula, couldn't tell you how many times I've posted this over the years. With all the variations of setup, stock, filtration and equipment, feeding, local water quality,
cost of water, etc. imo it's best to figure out what works best for you, not to rely on what someone else does in their tank with its own peculiarities.