Technically, it doesn't balance an air either, but it's just harder to notice the effect.
For an exaggerated example, imagine a 1-kg cube of styrofoam and another 1-kg cube of steel, each placed on opposite trays of a balance-scale.
The scale will be truly balanced in vacuum, and in air will appear balanced to the unaided human eye.
However when you submerge the entire system underwater, the differences will be shockingly visible... especially when the styrofoam floats up and off the scale entirely! It isn't because of negative mass or negative weight, just buoyancy that can no longer be ignored.
By conducting the "weighing" experiment again in a denser fluid (water) any subtle differences in density/ displacement become easier to measure.