DNS, as I see it, lets someone else assign the names, i.e., the semantic meaning. Thus, assuming I am an internet user in the pre-DNS era, with the advent of DNS, I do not have to keep updating a HOSTS file when new hosts come online or change their address. This reduces administrative burden. The semantic meaning was already controllable pre-DNS, via the HOSTS file.
Many times I have read the criticisms of IP addresses as justifications for DNS. For example, IP addresses are (a) difficult to type or (b) difficult to remember. I simply cannot agree with such criticisms. As time goes on, and the www gets continually more nonsensically abstracted, I like IP addresses more and more.