I think it helps the user feel confident in the form's accuracy. In some cases, abstracting or automating away information from the user can make them confused

I think it helps the user feel confident in the form's accuracy. In some cases, abstracting or automating away information from the user can make them confused or increase distrust in the form. There's something to be said for making things 100% clear and upfront to the user. This is something you'd test, it's not something I'd say with confidence would increase or decrease conversion rates; but I definitely understand the hypothesis behind it.