Real binding was originally used on acoustic guitars, to seal off the edges of the pieces of wood from absorbing too much moisture, drying out, absorbing, dry, wet, BLOOEY!
your acoustic or hollowbody jazz guitar explodes. It was actually a necessity back in the old days of the early and mid 20th century, because there was no air conditioning, central heat, humidifiers,
de-humidifiers and all - houses actually got cold in the winter and hot in the summer - barbaric. When Gibson saw Leo Fender's plain flat board guitars, the brain trust began casting about for a way to make boards more expensive-looking. So they carved the top, so it was arched - just like a real guitar! And they put binding on it - just like a real guitar! And then, they even painted it gold, (gold is
very valuable) just so you would get the point - this is
not like those cheap, creepy board guitars,
this is a REAL guitar! Oh, they were some clever dogies, those boys at Gibson.