Typically this is done to circumvent the overhead of using reflection, using information only available at runtime.
You would then use reflection, which can be slow depending on what you do, to build a new piece of code that works directly with the data given to it, without using reflection.
Advantages:
Disadvantages:
- Hard to debug
- Hard to get right
- Hard to read code afterwards
- Steep learning curve
So you need to ensure it's really worth the price before embarking on this.
Note that this is a general answer. In the specific case you came across, there is no way to answer why this was done nor which particular advantages (or disadvantages) you would have without actually seeing the code.