1. Increased efficiency by losing the hash board Vcore regulators and using the PSU itself to set and regulate voltage to the chips. That in itself helps eff by several %. Yes losing the PCIe connections & wires and instead using solid bolted-in-place bus bars also helps but assuming you have proper sized wires and connectors are in good shape there should be little loss from those.
2. Allows for higher chip string voltage allowing for more chips per-string which in turn divides up the voltage across each chip more evenly giving a bit more headroom for what voltage each wants to run at. Most of the built-in PSU's can provide 15-20vdc to the hash boards with the final applied voltage determined by the auto-tuning process.
3. Uses a PSU with known characteristics vs whatever bargain basement/unknown PSU a user decides to try using.