The main reason is for less air resistance, which allows for faster speeds and better fuel economy which is a win win. It also allows in most cases to fly above most weather phenomena as the weather above the cloud layers is generally more consistent. There is also the benefit in some cases that you can take advantage of large, stable wind currents that further help gain more speed with better fuel economy. The extra vertical distance amounts to a few miles and a few minutes of flight time, but the majority of the hours long trips benefit much more from the higher altitudes
So, my best attempt at a true ELI5 answer:
You are in a swimming pool at one end, and you must get to the other end. You have two options:
You can swim all the way (staying at 5,000 feet).
You can climb out, walk to the other end, and climb back in (climb to 40,000 feet).
Even though climbing out adds distance (and requires a little more energy for the climb) you will use a lot less energy walking along the side of the pool.
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