I think the terminology is a little silly but presenting your devs with an abstract view of the underlying physical/virtual infrastructure is good for the ops and dev teams in terms of flexibility.
It’s a framework that makes it hard for one side to accidentally depend on something they shouldn’t.
Here i am just referring to the ease of using iaas offerings like s3 buckets but through on prem hardware. Devs build against drop in blob storage apis as if we lived in aws, and my ops guys still manage the backing vms.