This is to locate the client libraries near the other scripts, which are generally found below /appsand /libs
In order to better isolate code from content and configuration, it is recommended to locate client libraries under/apps and expose them via/etc.clientlibs by leveraging theallowProxy property
Before when we used to declare clientlibs in /etc. We had to allow /etc paths access to end user as well as if we wanted to keep js/css under the component. we had to either embed our original clientlibs in site clientlibs in /etc or directly define js/css in /etc clientlibs. This proxy clientlibs does not require this two way step process. we can now easily keep component specific js/css files near component and make it available to end users using allowProxy property.