Two reasons: accuracy, and discipline.
While rifles did exist at that time, they were slow to load due to the need for a tight fitting bullet to engage the rifling, and also required a heavy mallet to drive the slightly oversized bullet down the barrel. (except for those sneaky colonials who used a greased patch of cloth to complete the seal, that could be quickly reloaded without need for a heavy mallet) For that reason, muskets of that day were smoothbore with a slightly undersized bullet for rapid reload. With no rifling and a loose fitting bullet, aimed fire wasn't useful beyond maybe 30-50 yards.
Firing in volleys with everyone aiming in the same general direction turned a musket platoon into a giant shotgun. An individual firing a musket at your unit at 80 yards isn't going to do much harm. 15 or 20 musketeers firing at your unit at 80 yards, some of you are going to get hit. This could also be demoralizing to an opponent - armies breaking and running away was not uncommon.
It wasn't until the development of the Minie Ball, a bullet with a cone in the base that could be dropped down a barrel quickly and would expand and engage the rifling when fired, that militaries began to adopt rifles... first major use was the US civil war, with horrendous casualties as soldiers marched into aimed fire from rifles accurate beyond 200 yards.
There is also discipline to consider. Combat is a hectic, confusing, and occasionally terrifying experience. At that time, a lot of soldiers were involuntary conscripts with not a great deal of training, thrown into the confusion of a battle. It's important to remember this as we tend to think of soldiers today as the very highly trained volunteers in the major military organizations.
Soldiers, especially fresh recruits pressed into service, perform better when given explicit orders for every action in the chaos of battle, and are less likely to break and run. Musketeers were typically organized in rows of three - the front row firing on command, then stepping to the back and starting the reload process while the other two rows took a step forward, all on command. By the time the other two rows had fired and stepped back, that first row had completed the reload.
By doing this, a steady and heavy rate of fire could be kept up, with semi-aimed volleys.
Ironically, the British Army had developed a rifle that could be rapidly reloaded and was accurate beyond 100 yards, in the 1770's... the Ferguson Rifle, the first operational military breechloading rifle. 100 of these saw use in only one battle, the Battle of Brandywine in the US revolutionary war. And then, most of them disappeared when the unit commander (and inventor) Patrick Ferguson was wounded, and the unit was disbanded. The British didn't expand the use of this weapon, partially because it was expensive, and partially because they hadn't developed the tactics to take advantage of it's high accuracy and rapid reload... still using pole arm formations and firing in volleys. Had the Ferguson Rifle been in the possession of the colonials, who had already made good use of the woodsman's Kentucky Rifle and unconventional tactics, it might have been a different story.