My thought process is that it can be used as another layer of security. If the IP address changes (implying the device has changed networks), I want the cookie to be invalidated.
I develop custom business software and I am trying to mitigate the risk of a computer being stolen and the thief getting access to the data in the software. While it isn’t a perfect solution, it seems like an easy extra layer implement.
It’s a valid case, I agree. But this might cause some issues when you use your laptop and should log in from remote places. Or if you have a DHCP in your organization, you might have issues when your computer is rebooted.
You can go forward with any of the options I specified above. But do not forget about other means of protection like VPN.