Although I get satisfactory service from my properly adjusted Suntour oil damped coil fork, Ravi is right!
The issue is
unsprung weight. The balloon tire at low pressure springs ALL the weight upon it. A suspension fork, however, has the inertia of the entire tire and wheel and movable fork portion to control. The mass of this reciprocating group wags the dog. None of that obtains in a balloon tire.
The auto industry went practically overnight from high pressure tires to low pressure "balloon" tires in 1924. And this law of physics, that a low pressure tire behaves inherently better when bumped because the bump is absorbed and damped right where it starts, has never gone out of style.