Imagine a system that pulls 100w from the wall. If the power supply is 80% efficient, that means the system is actually using 80w but pulling 100w because there is a 20% inefficiency. That's why some people like their power supplies as efficient as possible (80+ bronze, silver, gold, even titanium now). The higher efficiency means your system pulls less power from the wall, resulting in lower power bills and less heat generated.
Many will argue that the price difference between a more efficient unit and a cheaper one isn't worth the price given the power savings, but in this case especially I think it is worth it. We're talking mining rigs loaded with high power video cards running full load all the time. When electricity cost money, the less you use, the better, and we stand to shave off a decent chunk on the power bill by using the most efficient power supplies in these machines. Not to mention a little less energy wasted as heat in a scenario where these rigs are already dumping tons of heat from the load generated by mining.