plants need co2 to survive, but there is always co2 in water, just in lower qties than if you would add co2 artificially to your tank.
the air stone adds surface movement, which in turns lets the water absorb more oxygen. However, Most tanks today don't need an air stone for oxygen.
I do like them in wider tanks where the filter is alone on side, the bubbles will create a water current, thus causing better filtration...
or some people just have them for esthetics, cause it can look nice if placed properly