TL;DR Increased CO2 aids in Oxygen delivery efficiency.
[0] https://en.wikipedia.org/wiki/Bohr_effect [1] https://respiratorycram.com/bohr-effect/
> an increase in CO2 results in a decrease in blood pH,[2] resulting in hemoglobin proteins releasing their load of oxygen. Conversely, a decrease in carbon dioxide provokes an increase in pH, which results in hemoglobin picking up more oxygen.
So lowering carbon dioxide concentration (through an activity like hyperventilation) will cause hemoglobin to pick up more oxygen molecules. And increasing carbon dioxide levels will release those molecules. Fascinating.