When creating an MVC project via Visual Studio, Views are created with \".cshtml\" files.
The KendoUI Server Wrappers have a model in the View whereas the KendoUI Web no
Well, HaBo said it all, basically. The server wrappers are great for those who (like myself) like to be "lazy" when coding. I prefer the fluent like way of doing things with the wrappers as opposed to the pure javascript way.
That said, you should bare in mind that the KendoUI MVC Wrappers are no silver bullet. If you do not know your way around javascript, you might find yourself short on what one can do with the KendoUI framework.
For me, I've been finding a balance between using the wrappers and javascript also (using the "events", for instance) to do more "advanced" stuff. :)