My preference for rebasing comes from delivering stacked PRs: when you're working on a chain of individually reviewable changes, every commit is a clean, atomic, deliverable patch. git-format-patch works well with this model. GitHub is a pain to use this way but you can do it with some extra scripts and setting a custom "base" branch.
The reason in that scenario to prefer rebasing over "merging in master" is that every merge from master into the head of your stack is a stake in the ground: you can't push changes to parent commits anymore. But the whole point of stacked diffs is that I want to be able to identify different issues while I work, which belong to different changes. I want to clean things up as I go, without bothering reviewers with irrelevant changes. "Oh this README could use a rewrite; let me fix that and push it all the way up the chain into its own little commit," or "Actually now that I'm here, let me update dependencies and ensure we're on latest before I apply my changes". IME, an ideal PR is 90% refactors and "prefactors" which don't change semantics, all the way up to "implemented functionality behind a feature flag", and 10% actual changes which change the semantics. Having an editable history that you can "keep bringing with you" is indispensible.
Debugging history isn't really related. Other than that this workflow allows you to create a history of very small, easily testable, easily reviewable, easily revertible commits, which makes debugging easier. But that's a downstream effect.