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Just pining for the Fjords

Security still plays. If I'm offering a blog for instance or some FOSS software that isn't in Russian or about Russia and I'm getting frequent bad traffic from Russia, I'm probably going to geoblock Russia.

Security is very often the reason (other than legality or copyright) that web services employ geoblocking. While people can easily circumvent this via VPN or any number of other methods, this takes slightly more effort which helps improve the overall signal to noise ratio for web-traffic considerably. 

It's not about trying to stop those people from accessing that service per se, it's just a fact that there are a number of countries who don't have laws or don't enforce laws regarding tampering with foreign systems. While this may be the action of just a few people in any given country, the traffic can be from many thousands of different IP addresses which may only have a country of origin in common.

Attacks on FOSS software as a means of gaining illicit access to organizations using that product as part of their infrastructure are more and more common (search: supply chain attacks). People who are earnestly trying to use a website that they are being geoblocked from are sadly caught in the crossfire of a fight they have no part in, and probably don'tknow is happening. However, the people doing the geo blocking are generally not doing so out of malice, but out of necessity.

A friend of mine was a security administrator for a small webhosting company for a while and he would often block certain countries based on the fact that his company didn’t do any business in those countries, and simultaneously those countries were prominent sources of malicious traffic. Not to say that the only traffic from those places is malicious, but if you don’t plan on offering any services in those areas it definitely makes sense to geoblock them from a security standpoint.