Because at the time, NRA Bullseye competition had a 12"? limit on how far apart the front & rear sights could be placed.
So, the 8 3/8" barrel, plus the length of the N & K frame was as long as they could be and still be legal for NRA Bullseye competition use.
Still, that measurement comes up a little less then 11 1/2" from muzzle to rear sight lief so they could have been a little longer.
There is also some speculation 8 3/8" was as long as the barrel rifling equipment they had at that time could make barrels.
rc