I think the main thing LangGraph adds is a state machine framework for human in the loop with time travel.
So if you have an authoring workflow where a doc goes through a bunch of steps, and at some steps the analyst might want to fix some LLM output manually, and try a couple of things and then go back to the way it was before and try again, it will do that and you won't have to make your own state machine.
Now is it actually a state machine or is it just well logged?
LangGraph implements a variant of the Pregel/BSP algorithm for orchestrating workflows with cycles (ie. not DAGs) and parallelism without data races. You can design your graph as a state machine if you so desire