Note that's "sensitive", not "precise". The atmosphere changes pressure with the weather, so you don't get accurate absolute altitude - at least not without knowing the local "pressure altitude". Barometric pressure can vary in a way that represents plus or minus 300 or 400m of altitude, and can swing between high and low fairly rapidly in extreme weather events.
But over short timeframe the change in barometric altitude can be very useful. Glider pilots (including paragliders and even RC gliders) often use very sensitive barometric pressure sensors to detect when they're in rising to sinking air, down at the few meters per minute range of sensitivity.
A trivial example would be people on different floors of a skyscraper—although I suppose gps works poorly indoors anyway. Still, even outdoors there are peaks and crevices, and on a steep slope a very trivial change in lat/lon could lead to a major change in altitude.
https://www.ncesc.com/geographic-pedia/why-is-my-gps-elevati...
But elevation maps are not detailed enough and position is not accurate enough to get accurate elevation. Think about standing on trail along steep slope. The position not being that accurate is fine since you know you are on trail. But altitude could vary wildly going up or down slope, or even up or down trail. It is probably similar to GPS vertical accuracy, but were going for more accuracy that barometer provides.
Because the SATs only give you a pseudorange distance between you and the sat, so each say is most accurate solving for distance to/from that sat, and much less helpful resolving angle to the sat.
With a clear SkyView, around just under half of the sats are hidden by the earth.
This means that you get a full 360 degrees of data that can be near the horizon helping resolve lat/long.
But only about half of that sky is helpful for altitude. The birds you can't hear directly below the earth would be the most helpful for improving the altitude fix if you could hear them.
Baro is handy because you can take the absolute altitude from GPS as a low frequency baseline and use the baro for high frequency changes. Then when GPS says we teleported +200 feet when a new sat comes into view, we can temper that that with baro information.
You also probably want an accelerometer.
[1] https://www.nstb.tc.faa.gov/reports/2020_Q4_SPS_PAN_v2.0.pdf...