All else being equal, people are more likely to follow people who already have lots of followers: there must be something good about their tweets that makes all those people choose to keep following them.
The number of followers is the only visible indicator of the "goodness" of an account. It's similar to karma on Hacker News, except that it's impossible to miss because it's prominently displayed. This is probably intentional on the part of Twitter, to grow their network.