If you read the claims for humate from the people who sell it, the stuff does about everything. It builds stronger roots and improves nutrient uptake. It affects the physical, chemical and biological properties of the soil. It helps aerate the soil and makes for better water retention. The grass grows greener and more easily endures stress. Humates build strong plants 12 ways. Humates and kelp are historical fertilizers that contain all the micronutrients a plant needs. The growth of a plant is limited by the nutrient in shortest supply.
I like humates and kelp because they are good food for the biology, especially fungi. I have done tests on lawns that had a lot of dandelions. After evaluating chemical, textural and biological tests of the soil, the common denominator was good fungal numbers but low fungal activity. Humates and kelp helped increase biological activity and dandelions seemed to diminish. The fungi break down minerals like calcium, a dearth of which is reputed to provide prime dandelion soil.