You revoke a certificate when you believe that it might have been compromised. Expiring certificates helps protect you when you've unknowingly been compromised.
So let's say that one of your employees accidentally pushed a private key for one of your certificates up to GitHub and you notice it. That's when you should immediately rotate that certificate and revoking the old one.
Now let's say that the same thing happened but you didn't notice. That's where the certificate expiring comes into play. For a Lets Encrypt certificate there's currently going to be a maximum of 90 days where someone could find that private key and work out a way to exploit it, after that period the certificate would have expired and no longer be being used.
If I had compromised the Bank of America servers a couple of minutes would suffice to collect a ton of password combinations.