That lets you write mod code without worrying about the differences between the Linux/Mac/Windows versions of the game.
There are simplified APIs for game asset/data changes, player configuration, translation, reflection, etc. Provide APIs and events which let you interact with the game in ways you otherwise couldn't.Code mods aren't possible without SMAPI to load them. SMAPI does a lot for you! For example, SMAPI will. NET Framework, and Stardew Valley uses XNA/MonoGame for the game logic (drawing to the screen, user input, etc).
The mod can respond when something happens in the game (like when an object is placed in the world), run code periodically (like once per update tick), change the game's assets and data, etc. A SMAPI mod uses the SMAPI modding API to extend the game logic.