power supply - What are the adavantages of neutral vs. isolated grounding?

While studying "Neutral grounding" I've come to know that advantage of neutral grounding is

1. Voltage to ground are limited to phase voltage.



2. The high Voltages due to arching faults or transient line to ground faults are eliminated.

And some advantages of isolated neutral

1. Possibility of maintaining a supply even with fault on one line.

Can anybody explain me clearly these advantages of neutral and isolated grounding. I don't understand these at all.

I am attaching images of source thorough I've read these concept for reference:

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