If you are a competing swimmer, then you wear a speedo. If not, you
don't.
I'm not a competing swimmer and I wear a Speedo training suit. I do a lot of swimming, and I find that typical trunks are uncomfortable, the canvas wraps around your legs when you get out and freezes you, and they slow you down.
Unlike some, I wear the clothes that makes the activity/sport the most comfortable and efficient.