Why do people praise balanced cables so much?

I've seen a post or two about people gushing over balanced, but I'm not sure I get why it would make such a difference.

Is there really enough interference on an average length cable for that to be the difference? Is it just more power? Is it placebo? Do I need better gear to hear much of a difference?

I have the Tripowin Noire, using it with Dioko and a BTR3K