One of the biggest benefits of a 240Hz monitor is lower latency. Higher refresh rates reduce the time it takes for an image to appear on your screen after your graphics card has rendered it ...
Some monitors have a refresh rate twice as high as the base 120Hz or 144Hz monitors, and 240Hz monitors have ultra-smooth motion, especially in games where microseconds become decisive.
And while 165 Hz won't be bothering 240 Hz and up mega-esports monitors, its still more than fast enough for most gamers. Plus you even get a built in Wi-Fi antenna.