It boils down to speed of editing text, especially editing code - I've yet to find anything that comes even remotely close (and for a long time I tried to find something else, haha).
Maybe one challenge in grasping it is that if you look at any one feature in isolation, it sorta looks like a negligible amount of time savings (if at all), and at the cost of weird key combinations. So maybe instead imagine if you took the top 200 common actions you do when editing code and recognize that over your career you might perform those actions many, many millions of times. Now shave 100ms to 5000ms (or more in some cases) off of each one.
I dunno if that helps, but anytime I have to use something other than vim, it's incredible how slow and tedious it is to do even the most basic things, and it feels exponentially worse with any sort of bigger editing tasks.