Similar perhaps. People are spoiled and tend to want to watch a steady stream of water while we brush our teeth.
Most well systems could get by with a much smaller tank than they currently use and maintain pressure just as well.
For example, many household wells are set at 20/40 psi. Meaning the pump kicks on when pressure drops to 20 psi, and off at 40. Regardless of tank size, pressure will be within that band, unless the continuous demand is higher than the pump can supply. But the larger tanks do two major things:
1. Reduce pump cycling. Reduced cycling leads to a longer pump life, due to thermal transients.
2. Provide relief for peak demands that exceed pump flow. When you flush a commercial toilet on a well system, the toilet temporarily uses a far higher GPM than the pump can provide. This gap is filled in by the pressure tanks.
They also provide a few minor benefits, such as:
Slower, more gradual pressure changes
Water storage in the event of a power outage or pump failure
Compressed air systems are similar. For certain demands, such as filling tires, tanks offer little benefit for cycling or peak demands. However, for demands with lower CFM requirements, such as small air tools and lockers, the tank will reduce pump cycling. And for larger short duration demands, such as blasting brake dust off a caliper with an air gun, the tank will provide a much higher instantaneous CFM than the compressor and lines can alone.
And even in the case of filling tires, a tank will provide a measurable benefit, in that the compressor will keep compressing air between tire fills. Whether that particular benefit is noticeable enough to be worth the $100 for a tank is debatable.
If I ever get around to installing onboard air, I will use a tank, maybe a 2 gallon. The tank is far cheaper than the compressor, and I’d prefer to extend the life of the compressor as much as possible. In addition, I really see no other use for the space where tanks are usually installed under the body.