But I think that's part of the argument. Reasoning about edge cases in code full of nested loops and conditionals is hard. Eliminating branches and opportunities to hide fencepost errors (for instance) goes some way towards reducing cognitive noise so you can focus on the meat.

Of course that's not the full argument. And I'll throw in one more: it isn't anywhere near the top of the list in terms of importance, but aesthetically pleasing, elegant code has a certain amount of value, if only to other programmers. (Naturally, it has to be correct, too.)