There are 2 questions here and i will answer them
what is the actual use of binding Models to the View?
The View just like HTML DOM is tree structure with various UI controls within them. So if your entire view can consume its data from a model, binding the model to a view makes the data accessible to all controls inside the View through the binding path.
What is the use of Component.js?
Component.js helps you compartmentalize your application as a unit(i.e. A Component) . That is a component contains all the views in your application and information about their routes and ready to be consumed by another component or a DOM Element. This is just for making your applications modular. Generally your application will have one ODataModel and multiple JSONModels . So instantiation of model can happen in Component since it is the starting point and json models can instantiated in separate views. Again this is not a rule but just a good approach.