Yes, that's more than 50% hype, but not completely.
First, "balanced seconds" are not really (fully) balanced, because otherwise the second stage would never open in case of an overpressure, and the hose would explode. "Balanced" seconds are actually "downstream override" seconds, they use a small balance chamber to reduce (but not to annihilate, as if they were fully balanced) the force needed from the spring to close the valve. It allows for a slightly lighter poppet, and because the spring is softer it also reduces the wear on the seat when the 2nd stage is not used.
The softer spring means a smaller cracking pressure but not that much smaller. "Balanced" seconds are then (marginally) better breathers than "unbalanced" ones, but that comes at a price : more complexity (especially for servicing them), more price, and more sensitivity to salt, sand, and so on.
For air flow the "balanced" seconds are often a bit better than unbalanced ones (like 1600 liters per minute for a Scubapro G250V opposed to 1200 liters/mn for a Scubapro R190, if I'm not wrong) but many unbalanced seconds can be good enough at depth provided they're nicely tuned. This bigger flow doesn't always come so much from balancing the second stage, simply manufacturers tend to offer higher-end casings for balanced seconds.
An advantage of balanced seconds is, they often have a cracking pressure knob that you can turn to prevent a free-flow in case of a strong current, or if your reg is getting detuned (this knob increases the pressure of the spring by making it shorter). But this also adds complexity, more o-rings, and a potential for failure.
Another point is that "balanced" seconds are much less sensitive to IP variations. This can be a drawback (your second doesn't tell you immediately of an IP creep in your first stage) or an advantage (some first stages, eg the Aqualung Legend, are "overbalanced", ie their IP increases at depth "to make breathing easier", and so they require "balanced" seconds, also for the octopus).
In fact the "balanced" vs "unbalanced" question is much more important for the first stage. No doubt that only the balanced first stages provide enough flow at depth in most circumstances. For second stages this is more of a "marginal improvements" vs "simplicity" choice, IMO.
Finally there is one exception in the world of unbalanced second stages, namely the Mares Abyss which is unbalanced yet hat an enormous flow thanks to a Mares patented feature named "bypass" (or "vortex assisted design"). This reg has been down to 313 meters (more than 1000 feet) underwater with Mark Ellyatt, so you (and I) should be able to breathe from it at depth.