If you do a lot of bisecting, or bootstrapping, or building compatibility matrices, or really anything that needs you to compile lots of old versions, the repeated ./configure steps really start feeling like a drag.
In a "reasonably well-behaved program", if you have the artifacts from a current configure, like a "config.h" header, they are compatible with older commits, even if configurations changed, as long as the configuration changes were additive: introducing some new test, along with a new symbol in "config.h".
It's possible to skip some of the ./configure steps. Especially for someone who knows the program very well.
Perhaps you can get away with that for small, young, or self-contained projects. But for medium-to-large projects running more than a few years, the (different versions of) external or vendored dependencies tend to come and go, and they all have their own configurations. Long-running projects are also prone to internal reorganizations and overhauls to the build system. (Go back far enough, and you're having to wrangle patchsets for every few months' worth of versions since -fpermissive is no longer permissive enough to get it to build.)