Basically, each average booster box has a set amount of equity. For simplicity's sake, let's say $100. Let's say there's 5 chase cards in the set and everything else is bulk. Those five cards would end up eating the vast majority of the equity and therefore have to be more expensive to account for booster boxes opened that don't have any copies of those cards. If say say that, on average, you get 2 chase cards in a box, that means each one will settle around $50.
On the other hand, if the equity is spread out amongst, say, 25 cards, that means that $100 equity gets spread around further and there's fewer boxes with no money cards that need to be made up for when considering pricing. Because the odds of opening a box with no value is lesser, it means that the delta between the high end of a box's value and the low end is smaller, so prices flatten out.
We've seen this in the real world already with masterpieces. The masterpieces took all of the equity of the booster boxes and standard card prices plummeted. While that sounds fine on paper, in reality, not being able to sell or trade your cards for any real value is miserable. Wizards realized that and that (and a few other things) caused them to discontinue masterpieces.