It drys it out, objective is a higher ABV and lower FG. Monks like their beer with high ABV and low residual sweetness.
Simple Sugar (glucose) is completely used up by the yeast, leaving only alcohol and CO2 behind. This is unlike malt (maltose) or fruit (fructose) that will leave some long chained sugars behind. So if you want your beer to finish sweeter with more body use malt. If you want it as dry as a BMC beer, use sugar.
Candied sugar has undergone some mallard reactions that creates some long chained sugars that yeast cannot digest.
If you make it right you can get some unique flavors this way; if you make it wrong it will just taste like burnt sugar or like a fairground candy apple.
As far as esters, phenols, and fusels. These are produced by yeast under stress.
High gravity beers can contain levels of sugar that are toxic to yeast trying to multiply; thus causing this stress.
However if you pitch enough yeast at the right temperature you can avoid these flavors.