It probably mostly concerns those insanely productive people who are capable of making pages at a rate faster than "5 pages a month".
But I had a thought, does it really makes sense to release pages more often than once a week? I think most comic makers find it hard to keep "a page every week" schedule (myself included), so most comic readers are used to the most popular comic release schedule.

So I had a thought, maybe it is worth while to, for example, instead of releasing every Monday and Tuesday, release two pages every Monday? I have suspicion that readers would find it more enjoyable to read juicier updates that they consume in one burst. Webtoons seems to take this concept to the extreme, and people releasing entire episodes of comics (I think they amount to something like 5-10 classic comic pages in size?) at once is not uncommon and even encouraged there, even if there's much longer periods between updates than one week.
Intuitively this seems to make sense - as an allegory, if you can't download and watch the entire video at once, it's probably best and more enjoyable to watch it in chunks of several seconds long, rather than let it dribble one frame at a time.
What do you think?

It would definitely minimize the "webcomic time" issue we all face with weekly updates where one scene can take months to get through.

I'm not really informed enough on the Webtoon model to say whether it is better or not, but I do know that as a webcomic reader that initial binge is the most satisfying because the continuity remains.

I also can't speculate on reader gain/loss between the two models. I would think that longer spaces between updates would lose readers, but I can't say for sure.

I think it depends on the webcomic. For comics that aren't long stories, a page a week/more would be more beneficial because it isn't dependent on having prior knowledge of the story (like joke-a-day comics).

For longer stories, I also prefer to binge-read chapters and longer spaces between updates wouldn't bother me as much, if it were a regular update like once every month. I think Darwin's right in that some people really like that weekly hit because it's long enough to provide some space but short enough to remember that the webcomic is still updating. If you go for too long some readers may forget about your comic because they've moved on or it isn't showing up in their feed to remind them.

So in the case of short-form comics/strips/usually comedy single-joke comics, they're designed as single units and work because:

1. Everything you need to understand the page is on the page
2. You'll get a satisfying conclusion at the end of every page

Even though my comic is a long-form continuous story, I do my best to design my pages according to those two short-form principles because I do want it to be a good experience from page to page. I try to keep my pacing brisk and address one topic per page. If someone asks a question or brings up a new topic in the last panel, I repeat it on the first panel of the next page. And I try to have a satisfying beat or takeaway by the end of the page: a piece of important information the reader learns that's relevant to the questions they're asking, a funny or sweet character moment, a cliffhanger, etc.

I think there's always going to be readers who prefer to read my comic in chunks later, and that's okay, I think the story works that way too. I am also experimenting with the Webtoon method of dropping entire scenes at once from my archive (the tools don't actually LET me make my episodes longer than 6 pages after I convert them to scroll format), and I'm having to make up new "beats" that aren't in the original to make each part feel like it has a good conclusion.

But yeah, if you've got a lot of 3+ page conversations, you may be better served by deciding where the natural cut-off points in your story are and adjusting your update schedule to match how you write.

A couple of practical points...
The traditional model may be in response to classic upload format using FTPS. When individual comics are uploaded the file names depend on the date that the comic goes live . For example 20201118 will go live 18th November 2020. Uploading two comics on the same day could lead to problems with page order. Webtoons has a different method of uploading so you don't get this problem. Additionally, since the 90's webcomics have become much more professional and this influences the production process (well, mine anyway ). If you're planning your comic in advance and drawing them chapter by chapter, bulk uploads are an option. Which they're not if you're drawing your comic page the night before it's uploaded.

Like Caroline said, this is definitely a hangover from the early internet. Not only because of those code limitations, but also because comics weren’t centralised like they are on WT or Tapas with handy notifications that a comic just updated. In the days of yore there was (and still is) RSS, but not everyone used it. Readers were consuming fewer comics, but were more devoted to each comic they read. So a lot of them would simply memorise their favourite comics’ update schedules and check each one’s individual website for new pages on those days, making that consistency very important.

If you’re posting on WT or Tapas, regular schedules aren’t as important anymore. Though if you’re still going it old school, it does help to keep readers checking back every update day.

On the other hand, if you're going to Instagram a daily schedule is important, so you'd have to produce a page per day yeah.

You are completely missing the point of 1-page updates.
Readers who prefer binge-reading don't care how many pages you publish at once. They just visit your site once a week or once a month anyway. And you know what? Almost all binge-readers are silent and never comment.
But there are readers who like to discuss every page and it's they who give you most comments. Fewer updates -> fewer comments.
But the main puprose of frequent 1-page updates is increasing your comic's visibility and attracting new readers.
If you are registered in webcomic lists like Piperka and readers like Comicrocket, publish on ComicFury of Duckcomics, or are a member of a webcomic collective, your comic rises to the top every time you update, increasing your chances to be seen. Those sites don't care if you post 30 pages at once, they only care for the number of updates.

So, yes, frequent 1-page updates is the best strategy for webcomics.