> it will work even if the DOM is updated without having to add new event listeners

Nailed it.

And the sibling comment got at it but the "magic phrase" to Google for this technique is "event delegation." Two more phrases: delegation relies on "event bubbling," bubbling can be interrupted with "event capturing." (You will rarely want to capture events, it's JS's `!important` equivalent)

One decent overview: https://javascript.info/bubbling-and-capturing