Fresh brake fluid removes moisture in the system (in a logical sense, it doesn't remove it 100% but it replaces moisture-laden fluid with fluid of less mositure content.This is speaking of everything but dot 5 silicone fluid; all hygroscopic DOT 3,4,5.1). Moisture in the brakes, that is a problem, no? Moisture in the system degrades the hydraulic efficency. It's not the answer to every brake problem, of course, but you can't simply ignore this maintainence step just because it doesn't fix every problem. Brake fluid also has certain anti-wear and anti-corrosion additives that break down from the heat cycles of the brakes or just from normal use of the additives. Flushes/bleeds replenish these additives. Maximum water content usually reaches about 3%; this is readily handled by the corrosion inhibitors in the fluid. But as these glycol-based fluid inhibitors get depleted, they need to get replaced, just as motor oil and coolant does. Of course all DOT 3/4/5.1 brake fluids are synthetic in nature, polyglycol ether based with DOT 4 containing borate esters.