Question about why components etc are added the way they are

I've been asked a question to which I don't immediately have a (good) answer...

why is it in cake that this:

public $components = array('AuthComponent');

is preferred over

public $Auth;

public function __construct() {
       $this->Auth = new AuthComponent();
}

I actually really like the way its done in Cake, but have been told its "less readable" (a point I disagree with)....

wondering if there is any major technical reason for favoring one over the other. Curiosity more than anything...Is it purely to reduce lines of code? or to make code generation easier? or to facilitate testing?...

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