Are you stupid, you might think... But stop and think for a while. Model is no different from other databases. And by default it is in full recovery model. So as soon as you do your first database backup (you do backup your system databases, right?) the log for model will start filling up and autogrow. "But, hey, I don't do any modifications in model!", you probably say now. Fair, but other things happens in each database from time to time. Bottom line is that ldf file for model will start growing after a while . Perhaps not huge, but I find it "un-neat" to have a model with 3 MB mdf file and 20 MB ldf file.
Personally I prefer to have model in simple recovery since I feel that is a better default recovey model. An alternative is to regurarly set model in simple recovery and back to full recovery (schduled job).