Hello,
On a high level, it eases out managing vNICs or VHBA pair which needs to have same set of configuration
Cisco UCS Manager Network Management Guide, Release 3.1 - Network-Related Policies [Cisco UCS Manager] - Cisco
For example, consider blades with two vNICs where each vNIC traffic needs to go through different FI path.
With vNIC template redundancy pair feature, secondary vNIC template synchronize the shared properties from primary templates and reduces error ( MTU, vLAN , etc ) between two vNICs.
Let me know if you need more information.
Thanks
Padma