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What effect does "archived" have in RTC?

In RTC many of the data elements like team area, iteration, user cannot be deleted but only archived.
I understand that for consistency & history reasons not allowing to delete data is required.
But what is technically the effect of archiving a team area, iteration, project area?
Is it only a view filter or does it have any effects on e.g. query performance, data warehousing, ...?