It is an inspection process not a manufacturing process. By itself it does nothing.
As stated, air gaging is a process for measuring the diameter of the bore along the length of the bore. By itself, it does nothing and guarantees nothing. It does not affect the quality of the bore being inspected.
The key is to use the measurements to select a barrel with absolutely uniform diameter all along its length; or to select a barrel which gets tighter from the throat to the muzzle. It can be used to deselect barrels which get larger from the throat to the muzzle or have a wide spot in their middle,...
It can also be used by the manufacturer to gage the efficacy of process variations to guide them in selecting a process which produces more uniform barrel more of the time.