A tightly balanced first stage does allow for a very fine tuning of the second stage, even with both balanced. But that is a good question and Mares (was) known for their unbalanced second stages and well balanced first stages. The same with AL and the once ubiquitous 1085 second stage.
Oddly, I have become smitten with simple things and am using an unbalanced Mark 2 Evo with a set of balanced G250s
. The rig breaths just fine and it has been to 140 feet (TRL) and a couple more times over 100 feet. And I have purposely run it near to an empty tank just to see how it does and I do not notice much until around 500 psi and then the G250s begin to show a difference. With an unbalanced first stage, an adjustable second stage can be tuned to the lowest expected IP (near empty tank, say 700 psi) and then use the adjustment knob to prevent leakage at full tank and highest IP (really optional and not needed to get good performance). That is about a half turn on my G250s. IP drops over the 3000+ to 600 psi from about 145 to 128 psi. And while an unbalanced second can be set up to work with an unbalanced first, it is not ideal for deeper and more ambitious diving adventures. And, importantly, even with the improvements to the Mark 2 Evo with a 15% greater flow rate and 250A certification (support two people at a minimum of 100 feet in 4 degree C temperature water), that is still half the potential flow rate of the Mark 25. Even supposedly balanced first stage can have a variance of 10 psi from full to empty. Yes, a flow through piston balanced first stage can flow more air especially as density increases, mass flow. And even compared to a balanced diaphragm first stage which have a somewhat smaller orifice and that orifice is partially blocked by the needed push wire.