What benefit does liquibase "splitStatements" provide?

Question

liquibase version being used - org.liquibase:liquibase-core:3.8.2. (not pro version)

Liquibase documents (1 & 2) says below about splitStatements (defaults to true)

Set to false to not have Liquibase split statements on ;'s and GO's. Defaults to true if not set

and

Removes Liquibase split statements on ;'s and GO's when it is set to false. Default value is: true.

Another useful sof post i found - In Liquibase is it OK to have an empty line on splitstatements?

I understand - when splitStatements is true, liquibase splits the statements on ; and GO

1. It not entirely clear what benefit splitStatements adds - i.e if SQL statement are split on ; (end delimiter) or not, what difference will it make - i.e if the statements are executed in a single query or multiple queries - won't the db handle the ";" based stuff anyway. This seems to be essential to understand. --could some one quote an example.
2. My current project has splitStatements:false. what advantages are we getting by disabling splitStatements. -any example would be greatly appreciated.

------------------------question expanded after answer from @user13579
below is an extract from a liquibase changelog file. This is what brought me to this question. It has splitStatements:false and a ;s in script and it works. With splitStatements:false i would expect a error in this case and the answer I suppose also suggests an error in this case. The below is from production code so I am NOT sure how it works and the backend is POSTGREs. Can someone explain.

--liquibase formatted sql

--changeset adam:001-users-001 failOnError:true splitStatements:false logicalFilePath:001-users.sql

CREATE TABLE sys_users
(
  user_id SERIAL,
  first_name character varying(64) NOT NULL,
  last_name character varying(64) NOT NULL,
  email character varying(255) NOT NULL
)
WITH (
  OIDS=FALSE
);

CREATE TABLE user_role
(
  role_id SERIAL,
  role_name character varying(255) NOT NULL,
  description character varying(255) NOT NULL,
  created_on timestamp(6) with time zone NOT NULL,
  created_by character varying(64) NOT NULL,
)
WITH (
  OIDS=FALSE
);