None is not just another nullish value.
If you do a type check with None, and there is some value inside (so it is Some, not None), it is IMPOSSIBLE that the .value that you extract underneath is gone. This is an important race-condition that you might run into due to the nature of TS/JS, but by boxing the value with an immutable Option type, you're protected.
Also this prevents people to run into NullReferenceException (or UndefinedRefsExceptions, or whatever is called in this ecosystem) for people that didn't turn strictNullChecks ON.