Every web application needs logins, database access, queues, caching and API routing. None of that makes your business special. Laravel handles those solved problems, so the time goes on the rules that are unique to you.
It also produces code that other people can read. That matters more than almost anything else. Any competent PHP developer can pick up a well-built Laravel app, so you're never stuck with us. Which is exactly why people tend to stay.
It suits the way we work with AI, too. A framework with strong conventions gives AI tools clear rails to run on, and gives our developers something predictable to check.