It's mostly for cases where your database write traffic is so high that a single disk volume can't keep up while writing for both data files and log files. Disks have a finite amount of throughput, and you could have a very busy database server.
But it's not likely that separating data files from binlogs will give better performance for queries, because MySQL writes to the binlog at commit time, not at query time. If your disks were too slow to keep up with the traffic, you'd see COMMIT
become a bottleneck.
The system I currently support stores binlogs in the same directory as the datadir. The datadir is on a RAID10 volume over 12 physical drives. This has plenty of throughput to support our workload. But if we had about double our write traffic, this RAID array wouldn't be able to keep up.
You don't need to do every tip that someone says gives better performance, because any given tip might make no difference to your application's workload. You need to measure many metrics of performance and resource use, and come up with the right tuning or configuration to help the bottlenecks under your workload.
There is no magic configuration that makes everything have high performance.