It probably all started with typewriters (and teleprinters).
Nope, it started with books where 500 years of typographic practice has taught us that anything above 80 characters a line quickly becomes unreadable.
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In my case being able to read more significant lines in one go, clearly helps me navigate and understand code better.
And I let my IDE (Jetbrains) to the wrapping based on the actual width of the editor windows at any time, it works really well.