Here is what a 700c wheel looks like in the back of the dropouts:
Here is the 650B wheel:
So the 650B/27.5 rim sits back around 2cm (when the wheel axle is sat as far in the dropouts as possible) in comparison to the 700c, giving you extra space radially for a wider/fatter tyres.
You also gain around 1cm in lateral width as the rim effectively sits further back along the drive stays.
I have built a new 650B wheelset so I thought it might be good to cross post here.
https://www.lfgss.com/conversations/303696/
£90
Here is what a 700c wheel looks like in the back of the dropouts:
Here is the 650B wheel:
So the 650B/27.5 rim sits back around 2cm (when the wheel axle is sat as far in the dropouts as possible) in comparison to the 700c, giving you extra space radially for a wider/fatter tyres.
You also gain around 1cm in lateral width as the rim effectively sits further back along the drive stays.