Why would you want LEDs on a catfish boat?
I'd ask you: Why not?
I run my LED's while catfishing, have since I put them on my boat three years ago. I won't say it helps the bite any, but it certainly doesn't hurt a thing. The benefits are, lit up perimeter around my boat which allows me to see the rods and lines a lot better, it also keeps the bugs around the outside of the boat instead of swarming me (much better than drawing them to my face by wearing a headlamp). And drawing what baitfish in they can has never been a bad thing. Lastly, netting big fish at night is much easier when the whole perimeter of the boat is lit up instead of trying to get them while wearing a headlamp or something similar that produces an extremely limited amount of light. Then there is the safety aspect. I do like being lit up on the water at night, no shortage of idiots running around at night.
Aside from that, I doubt many people have have dedicated "catfish boats", so having them on a rig can be beneficial in a few other methods of fishing at night as well, but mainly for the reason cited above. I doubt I'll have another boat for a long time, but when I do it too will have LED's on it.
For many of us, the LED's are actually quite useful in a number of ways, not just bling for our boats. Sure, we caught fish for many years without them, but occasionally new technology comes along that does help.