In my opinion the only reason to do that is as a temporary measure to prevent aggression. If you want to isolate two fish to prevent them from infecting each other you'd need 2 tanks separated by a few feet because as Joe said you'd get cross contamination. There is no reason you can't QT two or three fish at once. You just have to remember if you add a fish to a QT where there is already a fish the clock starts over.
I agree, a big part of the reason to QT is to treat fish if they become sick in QT. QTing multiples could mean treating one or more fish for something they don't have, or, as pointed out, contaminating fish that may otherwise be healthy.