A WDH takes weight off the tow vehicle's rear axle and distributes some to the front axle and some to the trailer axles. The benefit is far greater than leveling the truck. For example a trailer with 1000 pounds of TW:
Just drop tongue on ball might do this compared to unhitched:
decrease front axle weight by 400 pounds
increase rear axle weight by 1400 pounds
Using a WDH could do this compared to unhitched:
restore front axle weight to unhitched amount ((net 0)
increase rear axle by 800 pounds
and put 200 pounds on the trailer axles
So in that example, you restore 400 pounds to the truck's steering axle and take 600 pounds off the truck's rear axles. That is significant enough to affect how many trucks handle. I do not know how much tongue weight your TT has, but the percentages are typical for full sized pickups and SUVs.
The forces on the receiver are also different in weight carrying compared to with weight distribution. Many receivers have higher ratings with a WDH, so check for a sticker on yours.