The best explanation goes from Rob Landley:

http://lists.busybox.net/pipermail/busybox/2010-December/074...

Some fragment:

> When the operating system grew too big to fit on the first RK05 disk pack (their root filesystem) they let it leak into the second one, which is where all the user home directories lived (which is why the mount was called /usr). They replicated all the OS directories under there (/bin, /sbin, /lib, /tmp...) and wrote files to those new directories because their original disk was out of space. When they got a third disk, they mounted it on /home and relocated all the user directories to there so the OS could consume all the space on both disks and grow to THREE WHOLE MEGABYTES (ooooh!).

> Of course they made rules about "when the system first boots, it has to come up enough to be able to mount the second disk on /usr, so don't put things like the mount command /usr/bin or we'll have a chicken and egg problem bringing the system up." Fairly straightforward. Also fairly specific to v6 unix of 35 years ago.

It was discussed here few times:

https://news.ycombinator.com/item?id=3519952

https://news.ycombinator.com/item?id=9554134