(I endorse Schmuddi's answer but I'll keep this one for the historical background it provides.)
The advice goes back more than one hundred years to a 20 January 1899 North Dakota Agricultural College, Government Agricultural Experimental Station for North Dakota, Bulletin 35, Some Chemical Problems Investigated by Edwin Fremont Ladd.
However, the advice is for water glass (sodium silicate) preserved eggs, not fresh eggs.
All packed eggs contain a little gas and in boiling such eggs they will crack. This may be prevented by making a pin-hole, in the blunt end of the egg. To do this hold the egg in the hand, place the point of a pin against the shell of the egg at the blunt end and give the pin a quick, sharp blow, just enough to drive the pin through the shell without further injury to the egg.
E. F. Ladd, Agricultural College, North Dakota.
This advice spread rapidly over the next few year, but always specifying that it was for preserved eggs:
See for example:
Irrigation Age April 1899
California Cultivator 20 June 1902 (specifically cites to E. F. Ladd)
The Country Gentleman 5 May 1904 (specifically cites to E. F. Ladd)
Michigan Poultry Breeder May 1904 (citing to the Poultry Herald)
Poultry Herald June 1905 (by Ladd himself)
The Poultry Keeper June 1905
Egg Money, how to Increase it 1908 (cites to E. F. Ladd)
Henley's twentieth century formulas, recipes and processes 1916
US Department of Agriculture 1920
New International Encyclopedia 1930 ("The shells of eggs preserved in water glass are apt to crack in boiling, but, it is stated, this may be prevented by puncturing the blunt end of the egg with a pin before putting it into the water")
Fortunes in formulas, for home, farm, and workshop 1939
Preserving and pickling eggs at home 1974
However, in 1939 Phillip G. Weimer invented the device illustrated below, Egg Venting Device (US Patent No. 2,224,941) and said:
As is well known, in boiling eggs, especially eggs which are initially at the relatively low temperatures at which eggs are customarily maintained in domestic refrigerators, it is a common occurrence for the shell of an egg to crack in the boiling operation. This results in the extrusion from the shell, and ordinarily the wastage, of a portion of the albumen of the egg. Furthermore, on the removal of the cooked egg from the cracked shell, it is ordinarily found that the appearance and frequently the physical characteristics of the egg have been impaired as a result of the albumen extrusion.
I have found that such cracking of egg shells in the course of the egg boiling operation may be eliminated by forming a small vent opening at the large end of the egg through the egg shell and the immediately adjacent membrane lining the shell and forming the outer wall of the air space at that end of a normal hens egg. If the vent opening formed is suitably small no albumen will escape through the opening during the boiling operation, and if the second membrane forming the inner wall of the air pocket is not punctured there will be no significant difference in appearance, or in` physical characteristics, between an egg which has been boiled after having its shell punctured in accordance with the present invention, and a similar egg boiled without having its shell first punctured or cracked in the boiling operation.
In Australia, about 1972, the Egg Marketing Board for the State of New South Wales published:
NON-CRACKED EGG BOILING
At last I've found a way to solve the problem of eggs cracking during boiling. At least I haven't, but the N.S.W. Department of Agriculture assures me it has ! It's all done with a simple pin prick, although preferably with a special pin- gadget available at some supermarkets and hardware stores. The point (one-eighth of an inch long) penetrates the shell at the blunt end— the site of the air cell.
So the conclusion is that people misapplied advice that was meant only for artificially preserved eggs, to fresh eggs.
Natural chicken eggs are gas permeable according to Physiology of Domestic Animals so there is no need to prick an additional hole. However, in the case of Ladd's sodium silicate preservation method the pricking is needed to let the air out.