It probably won't solve wildfires - there's still plenty of fuel, and hotter climates, and strong winds - but it can buy some breathing room. I suspect a bigger reason is to maintain the integrity of the grid. Buried power lines don't start fires, but they also don't get taken down when there is a fire, and they won't have a judge order them shut-off when there's a risk of high fire danger. Being perceived as an unreliable source of electricity is a far bigger threat to a utility than burning down a few towns - I know that was the primary reason I went solar, and a lot of my peers are also thinking of disconnecting from the grid because the grid isn't there when you need it.
[1] https://www.sfchronicle.com/bayarea/article/How-California-s...
[2] https://www.pbs.org/newshour/science/californias-catastrophi...