. . . and why is better to only have 1 neutral to ground bond at the supply/transformer as opposed to having multiple points of ground paths?
This is a great question. I remember well what an eye-opener it was for me to finally learn about this ancient and pervasive practice of power company distribution wiring.
Understanding the "why" includes accepting that the answer is largely: "Because that's the way all the rest of it is." The PoCo stepdown transformer, supplying a specific building, has a single neutral to ground bond because that's the way it's been done since the electrification of the country really got going back at the turn of the Twentieth Century. This single point bond is regulated under the PoCos wiring
Code, which is NOT the National Electrical Code (NEC). Back in the Early Twentieth Century assumptions were made, and this was definitely one of them. The Article 100 Definition of
Service Point explains the boundary between PoCo wiring regulations and the NEC. The NEC then establishes
another single point bond inside the
Premises Wiring (System), (see Art. 100), AND combines the equipment grounds and neutrals from the LOAD side of the Main Bonding Jumper into the single grounded supply conductor on the LINE side of the Main Bonding Jumper.
Those two bonds, the PoCo distribution transformer and the NEC Premises neutral to ground bonds, send the neutral current along any, and all, parallel conductive paths that happen to exist. On a rural PoCo distribution spur there will tend to be fewer low resistance parallel paths than there will be inside a neighborhood of occupancies that are supplied by municipal water and sewer through conductive piping systems. The parallel electrical paths through the municipal piping systems and the NEC required
Grounding Electrode System can result in surprising current flows, even when all the connections are good and solid.
Consider this example:
By CODEs (PoCo and NEC), this is not considered a problem. I assume all connections are solid and good. The only thing goofy is the unbalance current in House #3. A HUGE amount of that unbalance current travels in the neighbor's houses even if their meters are pulled from the sockets.
You ask me why? I'll tell you. I don't know. It's TRADITION. (Quoting Tevye in
Fiddler On The Roof)