A conventional graduate CV is often dominated by qualifications because there is little else to include. That makes many applicants look similar even when their actual ability is different.
Project experience adds a new layer. It gives you named work, responsibilities, technologies, methods, and deliverables to discuss. It can also create stronger bullet points because you are describing actions rather than aspirations.
The most valuable part is not simply adding another section titled Projects. It is being able to defend every line in an interview and explain what you personally contributed.
A CV becomes more persuasive when its claims are supported by work that can be shown, discussed, and where appropriate verified.