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To start with, sometimes a separate provider is not needed at all. If you expect users to have a browser wallet (such as Metamask), that wallet has its own connection already, and you can simply utilize that for at least reading blockchain data.
If you don't expect (all) users to have (or enable) a browser wallet and/or wish to use a separate background ...
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Yes, it's possible to have several instances of web3 inside your dApp, but it only makes sense if you want to sign transactions or read data on multiple chains. I don't see any reason why you would want to include multiple providers which are pointing to the same chain.
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