Not to belabor the obvious, but.....
Rock is useful in the tank only because it houses bacteria. The bacteria so housed cleans the water.
Rock also provides a home for myriad critters in the ocean, what we here call "hitchhikers." Some hitchhikers are good for our tanks, some are bad; but, IMHO, they are all fascinating.
Lastly, rock also provides a home for algae, coraline or otherwise, which adds color (one way or another) to our tanks.
The more porous the rock, the more bacteria it can house. The more holes, nooks and crannies it has, the more hitchhikers it might, or might not, house (if it came out of the ocean recently enough and under such circumstances as will allow the hitchhikers to survive long enough to make it to our tanks still alive - as opposed to WaterDogJen's rock which has been dry for so long.) The more surface area exposed to light, the more algae.
... and lastly and most obviously, the more it weighs, the more expensive it is to purchase. A dense rock of a given size weighs more than a more porous rock of the same size.