The point of reviving with 1 HP is because, if an enemy attacks them to kill them, that's still them using their turn to kill that character again. Turn-based RPGs are centered around the laws of Action Economy. If you revive them so they can take a hit, then revive becomes an offensive option (defense is best offense in a sense) rather than a rebound option.
I COULD use my attack, but I could INSTEAD revive Billy. And assuming this is default AI, they will randomly attack which means less chance to attack the healthy ones. If they hit Billy, he will survive and he's garunteed to get a turn to do whatever.
You see it in Dungeons and Dragons actually. If the enemy is prone to attack low HP units (which both players and enemies often do), reviving becomes psuedo-provoke where 1 guy revives the dead guy and the other 2 guys attack the enemies attacking the repeatedly-dead guy.
Bottom Line: Revive with 1 HP has it's uses unless your enemy is just pooping out AOEs every turn of which that boss was probably created as an Anti-Revive-Cheese boss. I hope that answers the overarching question here on "whats the point?" and as someone mentioned, there are things adjacent that would make that beneficial like if you had a unit that got stronger as their HP got low or you're like me and have multi-turn death ward spells.
In my current project, what you could theoretically do (assuming you have the correct party makeup) is revive someone, have the next ally give them multi-turn death ward, and have some way to get them with a lot of Threat (which is basically provoke) and while that turns Revive into a very offensive and defensive option, it requires like 3 spells and each has to come from a different person so the revived guy gets it ASAP before enemies start taking turns (team work makes the dream work).