Well, that's a nice looking board for sure, I can speculate of this being one of the reasons to be framed.
But the 1K RAM chips are the first commercial RAM of Intel, that launched the chipzilla as we know it.
The ones on the board are not Intel originals but "second source", more details here:
https://en.wikipedia.org/wiki/Intel_1103Another reason could be that your grandpa was involved in the design of the board that replaced a closed sized core memory. This was definitely worth of a celebration

.
Ten years later ('84) I was building Sinclair Spectrum clones with their Russian 16Kbit bigger brother clones, same beautiful package.
EDIT: WattsThat bet me

Cheers,
DC1MC