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Cutting holes in your socks. Firstly - wtf.
It's a power game to say that you've got bigger calves. The implication is that people who don't do it don't have big enough calves to warrant doing it.
A pair of socks that was designed to accommodate larger calves wouldn't catch on as you'd be seen to be a weakling by not having the holes.
Once the trend had started it catches on amongst the footballers who are sucker for things like that.
Cutting holes in your socks. Firstly - wtf.
Secondly - surely if there is any benefit, kit suppliers could by now have got some knitted like that. No different from cycling over socks.