The "some turntables" you're referring to are ones aimed at the home DJ market, I'm guessing?
For DJ turntables, Pitch Adjust is easy to understand. Lots of dance tracks are purely instrumental, so when mixing from one to the other, or when overlaying one on top of another, it's useful to me able to match the beats-per-minute count where the disc(s) don't naturally sync.
For home audio use, the strobe light and pitch control was a useful tool for checking the speed accuracy of a turntable to tell if the belt had stretched and needed to be replaced, or if (on a direct drive TT) the electronics controlling the standard speeds had drifted, or if the mains frequency was off. Direct drive turntables were potentially more accurate since the motor speed was clocked with an oscillating quartz crystal.
There are some differences too in the speed accuracy of AC and DC motors and their reaction under load. For example, a DC motor is quieter but requires very good (read as: expensive) power regulation to maintain its speed accuracy, particularly under load.
The Reverse function is more to do with scratching and mixing. IMO, it's one of those facilities made accessible to a wide market by cheaper electronics, so it has been added by the budget TT manufacturers more because "they can" rather than because there's a true demand for it.
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