It’s highly performant and scalable, and also has an amazing community behind it.
It’s build to be event-based, which means it can handle a much higher number of requests than PHP or C# given the same config, and with reduced memory use. This makes it a very economic option for applications that might benefit from being scaled up.
Through Node many new development tools have been on the rise, such as Gatsby, Next and React. In 2010 it could be said that PHP was the backend for the internet, currently Node takes that spot as the best implementation option.