I'm not an expert but as I understand it (feel free to correct me Daivid :) Node.js is asynchronous. What this allows is for your program to make a request let's say to a database, and instead of having to wait for the response before continuing (as with PHP), it can do something else in the meantime. When the response comes back from the db (or wherever) then your program does whatever it needs to with the response. Roughly like being able to help more than one person at a time on the phone by putting someone on hold while helping another. For a dynamic environment or an environment that needs to scale, this can end up a lot faster. (People often pair up node with nginx - node serving dynamic processes, and nginx handling static requests.)
Another reason is that David knows when you go for a job, if you know PHP but not node, your education will look "dated". ;)
Anyone else who is an expert, please correct me where I'm wrong - I love to learn too.