in ovirt-host.spec, net-snmp is included as "Inherited from ovirt-node". ovirt-node on 3.x indeed used snmpd, but ovirt-node-ng in 4.x doesn't seem to use it. snmp client tools in net-snmp-utils are still used, but the net-snmp package which contains only server-side stuff (snmpd, snmptrapd) seems to be redundant for rhvh now.
We dropped it in the past and we have been asked to re-add it. Request for net-snmp has been tracked in bug #1422024 Closing this as won't fix since it collides with approved request.