I totally get that they don't have to be exact to work for HVAC, It's not like these are filters that are going on a Turbine filter house or anything.
There's got to be some history here though,
These days It doesn't cost any more money to to make a filter that's actually 16"x25"x1" rather than 15.75x24.75x.75 (Aside from the tiny bit more material)
I guess back in the day when manufacturing wasn't quite as exact, probably not automated maybe filters did vary a little more to save a few bucks, but be honest have you guys ever actually gotten a filter that's not pretty much exactly a 1/4" under sized?