Not just for vanity, either - it makes phishing a hidden service harder: if users know the .onion for Agora starts with 'agora', then a phisher has to invest weeks of compute-time just to get a plausible .onion to start his phish with, rather generate than any old .onion in a millisecond.
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Tor hidden services also do this. (The address of a hidden service is a hash)
Not just for vanity, either - it makes phishing a hidden service harder: if users know the .onion for Agora starts with 'agora', then a phisher has to invest weeks of compute-time just to get a plausible .onion to start his phish with, rather generate than any old .onion in a millisecond.