Layer 2 point-to-point is a
cost effective way and flexible alternative to high bandwidth
leased lines. Many wholesale network operators have based their core network infrastructure on Ethernet and use Layer 2. This type of transport is protocol agnostic and allows anything running over the LAN to be sent over the WAN without having to use routers to convert packets up to Layer 3, the network layer.

It is no longer necessary to managed complex routing tables.

Customers save money by terminating their WAN connections straight in to a Layer 2 switch as opposed to buying expensive routers to convert Layer 3 back down to Layer 2.
Providers tend to provide only high bandwidth circuits, i.e 10 Mbps and above

Point to multipoint is not supported