The board should be available to both players to examine, no matter whose turn it is. If a player has their hand on one of the pieces, that is distracting. Even worse is a player who will pick up a piece, put it down on another square and keep a finger on it while they decide if they want to move there.
Also, visualizing the chess board after the pieces have been moved is part of the skill of making a chess move, so the touch move rule just nips in the bud any playing around with the board.
What's the reasoning behind the touch move rule ? Is it to stop players from figdetting ? Is putting a finger on a piece really that distracting ? Why should the other player care until the move is made ? Is it to train players to analyse in the head rather than seeing the position on the board ? Or is it to prevent the player from messing up the board ?
A lot of "silly" questions here - I'm just curious of its origins