The belt originally served to headspace cartridges that were rimless and had insufficient shoulder on which to provide a positive reference point, such as the 375 H&H.
Became associated with the word "Magnum", and manufacturers were reluctant to remove it on derivations of the 375 H&H (a marketing gimmick), even when it was unneeded, and even when in fact a bit of a nuisance for feeding reasons. Has nothing to do with strengthening the casehead - the rimless 308 Win operates at higher pressure than the belted 375 H&H. Weatherby actually added a belt to the rimless 416 Rigby case for use in the upper end of their cartridge line - again marketing.
Still serves a purpose on cartridges such as the 458 Win Mag, but is rarely seen on new offerings of smaller calibre.