Metals are reinforced for the same reasons as polymers: higher strength and stiffness, better impact properties, much higher fatigue allowables, the ability to design anisotropically.
Unlike polymers another benefit of reinforcing metals is that the density is usually reduced.
Predicting composite properties and designing with composites is much more complicated than with homogenous materials, but it is not impossible and the benefits make it well worth the effort.
Composites application growth could explode if we had a better set of rules for using anisotropic materials. Part of this is that the actual load vectors for many products are unknown, e.i. too much analysis stops with von Mises stresses.