I believe that peer advisors are important because they provide an immediate support system and informational resource to new students.
Starting college, especially at an institution like Cornell, has its challenges and it is important for freshmen to have someone they can rely on who has navigated the same experiences they have. Peer Advisors were freshmen once too, so they understand exactly what new students are going through. I remember taking ENGRG 1050 as a freshman myself and I remember it being immensely helpful. I learned how the grading system worked, how to navigate prelims, and what opportunities existed on campus.