Arguably data locality (as a parent-sibling comment suggests) is one reason you'd want to keep the substrate image around for a long time, but even then, there's no reason you have to destroy a data volume when reprovisioning an os volume. (nor do you even need an os volume if you run your substrate from ram).
[1]http://warewulf.lbl.gov/trac/wiki/Documentation [2]https://xcat.org/
Amusing side note: That was an interesting project with regard to system provisioning. The team responsible for the "south" cluster was from SDSC made up of folks who developed ROCKS[1], and the "north" cluster was managed by my team at LBNL, made up of folks who developed Warewulf (though at the time it was called Perceus). Each team was adamant about using their own tooling, so it made for some really long conference calls about keeping runtimes in sync.
I'm familiar with rocks, but I've never seen a warewulf cluster in the wild -- are you still using it?
I was only with the group a couple years nearly a decade ago (my job is up in the clouds these days) but it looks like Warewulf is still actively used: http://metacluster.lbl.gov/warewulf