Can someone describe to me the geometric intuition behind using a mapping $$ ((x_1,y_1),(x_2,y_2)) \mapsto \frac{d_1(x_1,y_1)}{1+d_1(x_1,y_1)} + \frac{1}{2} \frac{d_2(x_2,y_2)}{1+d_2(x_2,y_2)} $$ to define a metric on the product of the metric spaces $(X,d_1),(Y,d_2)$ ?
Of course I can check the axioms, but that doesn't give me any insight; so why was it defined like this and not differently (especially, why the $\frac{1}{2}$)? Why not use $ ((x_1,y_1),(x_2,y_2))$ $ \mapsto d_1(x_1,y_1) $ $+ d_2(x_2,y_2) $ ?
Jim's answer inspired a thought: Perhaps the author of the suggestion is building up to a metric for a countably infinite product: $$d(x,y)=\sum_{n=0}^\infty 2^{-n}\frac{d_n(x_n,y_n)}{1+d_n(x_n,y_n)}.$$ In this case, the normalization and the factors $2^{-n}$ are required to make the series converge.