The Analog 7.1/5.1 refers to the SOUND only (music or movie sound). Not Video at all.
Yeah, basically you don't need 7.1 Analog if you have a HDMI receiver. HDMI does both VIDEO & SOUND.
Folks who don't have HDMI receivers or those who don't even have a receiver or a processor will appreciate 7.1/5.1 Analog.
For example, if you own a fantastic Denon AVR-5308 receiver, which is an awesome amp/preamp without HDMI, you will appreciate 7.1/5.1 Analog.
If you own integrated amps and refuse to buy receivers or pre-pros, you will appreciate 5.1 Analog.
