It was originally developed to assess the underweight.
Funny given that there are multiple categories for overweight, but just one for under. Im guessing those categories were added later as excess weight became a more of an issue among a greater number of people. And you can only become so thin and still maintain life, whereas pounds can seemingly be added on without limit.
My dad told me recently that my sister had been losing too much weight and looked scary thin. When I asked her to see a doctor she challenged me to calculate her BMI, and she was still well within normal range.* Thin aint what it used to be?
*Even so, losing a bunch of weight without trying to is a worrisome sign and deserves a doctors visit, no matter what your BMI comes out to.