Exotic Saddles and Flying Mounts

The Equipment section discusses saddles and barding, and in the Exotic Saddles details, it says that "an exotic saddle is required for riding a flying or swimming mount".

Does this mean that the only way that a character can ride a flying mount is by fitting them with an exotic saddle, or does it mean that the only saddle that can be used for a flying or swimming is an exotic saddle? There don't seem to be any benefits to wearing a saddle, so the difference seems odd to note

If a character can just opt out of using a saddle to get around the need for an exotic one, then what is the point. But the other ruling seems kind of lame for paladins who would need to lug around a 40lb saddle with them to use their steed's flying ability.

It also seems lame that the DM can't have the party mount a dragon to fly off to some story location without the dragon first somehow producing enough exotic saddles for each of them.