It's less about having 16 chords in a bar and more about having the granularity of chord placement, given that you can place chords on any given 16th note instead of only quarter notes. Perfect example is the main guitar riff to No One Knows from Queens Of The Stone Age where the chords would look like this:
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There are only 4 chords in the bar, but take a look at the placement - one beat per bar is a rest, and another beat has 2 chords (one on the beat and the other on the 8th). Microchords makes it easier to get that type of syncopation.


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