I've been looking at used Gen 3's for a little while and it seems like the majority for sale are at/around 150K miles. Is this generally due to the battery warranty? Some other reason?
Probably just the typical amount of miles driven for a car of that age... Most people love their Prius so much they won't part with it until it needs expensive repairs.
California rule (or full CARB) states have a battery warranty of 10 years or 150k miles, though only for cars originally sold and still registered in such states. The other states have an 8 year 100k mile battery warranty.