The URL could point to an image, a movie, a web page, JSON, etc. The only thing it does not make easy/practical is passing large data chunks inline.
As to the latency: if large data isn't available locally, someone will have to take a hit. I do not see why severing this to the provider would be problematic.
If it is available locally, I would hope that the intent provider can retrieve it from cache.
Also, deferring the loading enables optimizations. Suppose I see an image on example.com that I want to share using Flickr. If I send the URL to Flickr, it can retrieve the image from example.com using its fat Internet pipe. If, instead, I have to send the image, I have much more upstream data. Even at home, that can be problematic. Mobile, things are worse.