Haven't looked at the code, but the allocated memory could be larger than necessary to make "off-by-one" or "off-by-a-few" errors less deadly. Then zeroing it out makes it even less so. Defense in depth.

Or it's an allocation for an arena? The zeroing might help trigger 0 derefs earlier if the overrun happens for the object that are then allocated in the arena (and not by allocating more objects than the arena can provide)

This doesn't prevent overrunning the buffer -- it means that when you do overrun the buffer, it does less damage