It doesn't matter, it's good marketing. It's not rational, but it lets Apple posture as being "high end". The utter majority of people won't be able to tell the difference but then again the utter majority of people won't even try to test it. I know that I personally can't even tell the difference between Spotify's "mid" and "high" quality settings the vast majority of the time even in perfect listening conditions with good earphones and focusing hard on the small details.

I've given up on arguing with audiophiles about this. In the end if they enjoy their overpriced setups to listen to 196kHz 32bits-per-sample uncompressed tracks who am I to tell them otherwise? It won't keep me from listening to compressed audio on my cheapo USB DAC with my mid-range earphones and enjoying it just as much.