Integrated circuit technology is always trying to reduce the size of devices in order to cram more capability (number of devices) into smaller and smaller footprint (die size). And smaller devices can run faster as mentioned. As you approach a mosfet gate length (~ distance between source and drain, ie, channel length) of 1um down to 10nm and below the problem becomes one of leakage current, ie, the ability to turn off the mosfets. This is the crux of the problem, at smaller and smaller dimensions you can not turn off the mosfets. This is why these chips now run so hot. You have fets with tiny leakage currents (source to drain @ Vg=0) but now millions and millions of them, hence , for total leakage we are now talking amps when the IC is not even on/running. How can you reduce the leakage, yes you need to lower the operating voltage (besides other clever techniques). With the drain and source distance continuously shrinking, leakage becomes more and more of a problem. Leakage of even 1 nA becomes a problem because you now have millions upon millions of devices. It is a problem of power dissipation.
At 1 um gate length (~ the distance between the source and drain) you could operate at Vds=5V because the gate length is large enough that leakage between the source and drain is acceptably low when the device is off (Vg=0V). Now imagine shrinking further, say to 10 nm gate length. Now the source and drain are so close together that at 5V leakage is way to high, power dissipation is through the roof, you can't keep the chip cool, etc. So you need to reduce Vds to say 3.3V, then to 1.5V, then to 1V, to be able to turn off the device sufficiently (ie, with an acceptable amount of leakage current between souce and drain when Vg=0V). At small enough feature size (say <10 nm) you completely lose control of the channel between the source and drain via the gate (ie, via Vg) and you then move to a different architecture, ie, from a 2D device (normal planar fet structure to a 3D device (FINFET: structure where the gate now wraps around the channel in a non-planar 3D arrangement in order to gain back more control over the channel in order to be able to turn it off.) This is now where the operating voltage is also approaching a lower limit, you can't run at 0V.
If you can't turn the device off then you don't have a switch