I do not maximize some of my applications because i want to have several of them visible at any time when i'm working on more than one. I do maximize some other applications, depending on what i'm doing. I do not maximize the browser because i want to have the content i'm working with/looking at/reading in front of me (especially on the reading aspect since reading long lines is tiresome) and maximizing on a 16:9 monitor means that a lot of content will be at the sides.
Now combine the above with the fact that i'm using a ~23" 1366x768 monitor, the tendency of pretty much every site out there to use the window width as a means to differentiate between mobile and desktop sites and the stupid trend to use ginormous font sizes everywhere and you get an idea of how much i like browsing many sites out there (at least HN and old Reddit is perfectly fine). Well, i'm thankful that browsers have a zoom option at least, many of the sites out there are only usable at a 70-80% zoom for me.
But yeah, last time i had my browser maximized all the time was when i had a 4:3 monitor.