Only in 2nd-brain mythology, which holds that you'll discover connections between your notes that you didn't realize was there. I think it started as eye candy to confuse prospective users considering Roam Notes. They later did something similar with their "Canvas" feature. So, these are features you get with their lack of coherent vision, rather than basic usability and a safe plugin ecosystem, neither of which Obsidian plans to deliver..
Let me provide a counter argument: with the graph you can browse your notes visually in 2D, instead of just the usual list. You can just take notes as usual, easily add #tags and [[links]] in them, and then when you go to graph view you can see connections between those links and you can color code or filter tags. You get a global graph view of all your vault, and local view of any note. Links and tags are literally the core Obsidian features and the graph view sits on top of that. For me that is a coherent vision and utility.
Sorry, the lack of vision I referred to related to Obsidian's leadership -- unserious D&D kids largely unconcerned with usability, performing security theatrics with sync e2ee while their users data is regularly at risk of mass exfiltration via their insanely dangerous community plugin ecosystem.
The on-screen appearance of the feature you're referring to may be visual and coherent, I'm just pointing out that users frequently cite theoretical or anticipated benefits of this feature, not real ones.