It mostly has to do with how keycaps are generally manufactured.
Extrusion molding is/was the most common. And from the most usable materials ABS was probably the easiest to work with.
Remember, it wasn't until that long ago that Pbt or pom keycaps were really rare. And it wasn't until just 2-3 years ago that we finally saw some real double shot pbt keycaps.
As for some other plastics:
Five of the most common plastics.
PET: Probably too susceptible to scratches I guess?
HDPE: It's a polymer so once it is mixed it will harden. That's a slight problem for use in extrusion machines where it might need to stay hot and soft for a longer time.
PVC: Good chemical properties but needs a plasticizer that will leak out over time.
Polystyrene: Pretty food qualities but expands into styrofoam when heated to 200C.
Generally speaking you want a
thermoplastics when doing double shot keycaps and most are simply to soft.