The basic reason tracked tractors are so popular on the Palouse is that the tracks have a much larger footprint on the ground compared to even the 8 wheeled tractors. This gives them superior traction and pulling power, particularly on soft, hilly and/or wet ground. And they don't compact the soil as much which helps crop yields. They can also turn a tighter corner. From what I hear, tracks ride better on soft ground but ride rougher on hard ground (i.e. a dried plowed clay field). Tracks have their downside too. The mains one being you can't cruise down the road between fields as fast and they cost more.
Out East, they are a rare sight. We have smaller 400 year old fields chopped up by paved roads. The cost to move tracked machines would be impractical for the benefit.
In fact, we are going the opposite direction. What you see out here are “road speed” tractors, generally that will do 24-35+ MPH.
3 of my tractors are road speed units as we have 10-12 fields and 400 +/- acres to go between at any given time. 2 came from Europe.
I would think with the price of fuel likely to be double last years levels (we are already 50% higher in just 5 months), fuel consumption will be a one of the key factors for farmers to determine the future of tracks versus tires. Wheel slippage causes fuel loss.