1.0.0.1 is owned by Cloudflare and is used for their DNS offering. It's likely a reliable 'ping' candidate for checking that your machine has internet access
Hey now, what is wrong with 10. class at home ;-)?
I chose 10, for simpler segmentation in my head primarily as I have a lot of devices in my house (10.<grouping/VLAN>.<location>.n), less chance of conflict as devices come online (devices i connect often are coded to 192, VPNs, etc.), helps with my VPNs between my locations.
The last shitshow I worked at insisted on 192.168.x.x for their corporate VPN. I'm not sure what they were smoking, but there was no way in hell I was going to reconfigure my entire home network so I could use their shitty VPN, so I just found another way in. Dumbasses.
[0] https://1.0.0.1/