So confused.

[gurpswoo1]

The NTSC still specifies the video standard used, there are still gamers using TVs that are not able to handle either PAL or NTSC colour systems.

It's also used for serial numbers and codes.

Not sure why Micrsoft chose to give the locking of regions in the hands of publishers, still we can be glad that many games are region free or atleast able to work on PAL consoles.