It appears to act like a resonance device from what I can dig up. The concept is that it influences electrons to flow better, with a reduction of "noise" of them being toward random. It'd be similar to cryo'd gear, except that in this case the potential can extend farther, into equipment, and maybe much more effectively. That is, in concept. It might literally just try to cancel resonances and nothing else (not that impressive and only works on standing ones).
It doesn't do anything really for removing noise on the line, it just makes things sound slightly better. In fact maybe all it's really doing is offering a tiny bit of PFC and not really doing whatever they're talking about.
The most expensive conditioner I've made has 17 Bybee's in it. However they are icing on the cake, and don't hold the fart of mouse to what the rest of the conditioner does.
There's so many reasons why many conditioners aren't quiet what people want them to be. The least of all is because of particular parts themselves, and only sometimes because of inappropriate use. Every piece of equipment you own has capacitors in it, and almost all have a transformer. It's ironic that marketing tells us that these things are inherently bad, because as far as I can tell they're taking advantage of someones less than ideal topology/implementation to be able to warrant selling you stuff that doesn't cost much of anything, at high prices. Look at Pi Audio who doesn't use several things others do, and look at his price reflecting that, being extremely modest; oh and it sounds good.