The reason not to kill:
"Because in that era, everyone uses their lives to fight for their dreams. When their dreams have been shattered, it's the same as losing a fight and as painful as death. I believe for a pirate not to kill an enemy is giving them a second chance to accomplish their dream."
- Eiichiro Oda
An alternate reason:
"When a villain, say, rules an empire with an iron fist for thirty long years, and someone breaks into his throne room and kills him, what do you think he's going to remember as he lays dying? That good triumphs over evil? No, that he got to live as a god for three decades!"
"But in the end-"
"In the end of what? The story? There is no end, just the point where storytellers stop talking. As long as the villain accepts the price that they will inevitably pay, then they win-no matter what actually happens."
- Paraphrased from Order of the Stick
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The journal of Captain Tobi99 (King Monty Python)
A journal describing peace, war, love, hate, life, and death.