Games have gotten longer and scoring had dropped, so they had to do something.
A very slight change in the threads of the ball will have a major impact on the pitcher firstly. They can through even faster, but get less movement. Evidenced by a pitcher just last week hitting 105 mph on three pitches to the same batter. He also walked that batter because the last 105 pitch was so wild the catcher couldn't get his mitt on it.
The strike zone has shrank to almost nothing. Back in the days of the Mantle/Maris HR race, it was the knees to the top of the lettering on the batters chest. Now it is mid-thigh to mid-chest.
Even a very slight difference in how tightly the core of the ball is wound will make it a "hotter" ball.
Lastly, it is well known that batters are swinging upwards more and more. The analytics have shown that the odds of having a HR or extra base hit are increased. On top of that, by swinging more "upwards", the batter is more likely to hit the ball just slightly under the center. That makes the ball go higher and further. I speak to this from personal experience. Back in the early 70's as slow pitch softball exploded in popularity (there was even a professional league - I played pro slow pitch softball for a couple of years before it folded), some of us were hitting restricted flight softballs over 340 feet on a regular basis. The right field foul pole in Yankee stadium is 325 feet. I hit one out of a 365 park. I also saw a couple of other guys do it. We have one thing in common - we swung upwards more and we hit the ball a little above center or a little below center.
MLB needs the HR now more than ever and is willing to do whatever it takes to keep them moving.