Backlinks from relevant authoritative websites can help a domain rank better on Google.
Not all backlinks are good though. There are many domains with tons of spammy links that can hurt instead of help. I would advise ensuring 3 things when you look at the backlink profile of a domain
1) Is the website linking to your domain relevant?
2) Is it a natural link a.k.a an editorial choice rather than a paid link?
3) Does it drive traffic to the domain?
These 3 can help you identify if the backlink profile of a domain actually adds more to its value.
Hope that helps,
John