I have a cheaper version, it does basically all one needs by telling you how many conductors the cable has, if it's only got 4 lights lit up it's a simple USB2, more power LEDs is a higher power charging cable, more data pairs, higher data throughput/USB3, nearly all of the lights (usually bar 1 of the CCX) it's full DP/Thunderbot, data, charging, A/V etc.

Sometimes it even shows USB-C connectors that are only wired for one orientation!

More often than not just knowing the contact has OK connection is good enough.

As far as I know the marker chips is mostly to tell the devices to not abuse the cable.

For USB, if it can carry 65W+ of power to my laptop as well as the Keyboard/Mouse inputs, 4K/60Hz display and audio back to the monitor as well as KB/Mouse and perhaps some external storage or network adapter, that's a pretty amazing cable.

I also have preferences between my cables by the quality and aesthetic, I prefer some over others because they look or feel nicer even if in testing they contain the same conductors, but that's just ... me.

I currently have 3 such cables connected to my work laptop each sending 4K/60Hz video to each of my 3 x 4k monitors, audio to my soundbar and one of them is powering the laptop at 90W and sending my keyboard, mouse and webcam inputs back.