I'm guessing roughly randomly but bearing in mind what the components needed and could withstand on a physical level.
You will find that 3.3V is 2/3 of 5, the first attempt at lowering processor consumption, and after that 1.6V which is about 1/2 and from then it was about how low can we go without crashing the processor, because the lower the voltage the less heat and the more stable, but there will be a sweetspot below which the voltage is not enough to keep the speed as more voltage means faster speeds but you much watch the heat because more heat means slower switching - Ah the fie art of overclocking.......