I think it's a variety of factors, capacity probably being the biggest one. Sub-c nimhs can go up to 5000mah, NiCads top out around 2400. That's not just double the runtime per battery, that's halving the weight you need to carry for an hour's bashing. Those are the extremes, most nimhs are closer to 3000mah, but most NiCads are 1800.
It's an interesting conversation to have, especially in the shadow of lipos and brushless dominating the bashing scene. I get the impression that nickel chemistry is largely run for nostalgia or safety reasons; I myself put together a brushless/nimh RC truck for my brother this Christmas to idiot-proof the battery logistics. Stick packs aren't obsolete yet, it's kind of fun to know they've been a format for 40+ years and are still going strong as the baseline.
The difference in current-draw capability doesn't emerge until you get into niche levels of tuning and low-turn-count motors, at which point the user is probably more aware of their battery choices and can select accordingly, going with nicad if they want the old-school vibe.
There's also the memory effect, which is still a source of controversy: regarding its existence, underlying mechanism, or even the origin of the theory. There's 4 paragraphs going back and forth about it on Wikipedia, with 3 "citation needed" and a few editors disagreeing about the subject.
There's the environmental aspect of cadmium - NiCads have been banned in the EU except for replacements and for medical devices (which hints at its reliability); that kind of regulation can reach beyond borders when a multinational is developing a product
for multiple markets.
I still see NiCads used in outdoor solar lights, where their tolerance of subzero temperatures beats every other chemistry.
They're also still used in large commercial jets (probably military too) - I think the 787 Dreamliner was one of the first planes to use lithium batteries, and it had teething issues with battery fires.