Is there an argument for using smaller container widths as apposed to the standard 1170px?

From my experience in building websites, it's common practice for developers and designers to build websites with a fixed container width of 1170px. I believe this is because the standard screen size for users is 1300px and that the majority of screens will display the site with a good amount of white space either side.

My question is, does anyone ever choose to design websites with a container width of 1000px or 991px? And if so, what determines this? Is it decided based on content or any practical decisions or is it just preference?

The reason why I ask is because I see alot of sites with small container widths and In my own personal preference I think it makes the webpage easier to read.

It'd be good to hear what people have to say about this topic.