transcoding 8 bit to 10 bit suddenly will improve color correction?

I keep reading articles all over the web claiming that if someone transcodes their 8 bit camera footage to 10 bit it somehow magically makes the colors pop and color correction is easier. I don't see how this is possible when the original is already 8 bit. The only thing I do know transcoding does is it creates timecode, smoother playback and sometimes faster renders