Why terminations on speaker cable?

I'm wondering why using bare leads with speaker cable is not more common. There is really never a case when any kind of terminator is going to result in clean conductivity since even if said terminator has more surface area to contact the binding post, it is still soldered to the wires at a single point.

Are speaker cables terminators just audiophile baggage?

I'm going to try some unterminated cables for my speakers.

At the very least I think it will likely be an improvement with HE speakers where voltages & currents never get very high anyway.