A multi-day liveaboard trip reaches outer reef sites that day boats from Cairns and Port Douglas simply cannot get to and back from in a single afternoon.
Day trips are worthwhile, but they are limited to inner reef sites within a couple of hours' run of the coast, which tend to see heavier traffic and less pristine coral. A liveaboard instead sails overnight to outer reef systems like the Ribbon Reefs or, further north, the Coral Sea, anchoring at sites with sheer coral walls, resident reef sharks and a real chance of manta rays or minke whales depending on season.
The rhythm on board settles quickly: three or four dives a day, meals and briefings between them, and a night dive that reveals an entirely different reef — parrotfish asleep in mucus cocoons, hunting octopus, coral polyps fully extended to feed. Surface intervals are spent on deck rather than in a marina, which is its own kind of luxury after the first day.
Get comfortably certified before you go rather than learning aboard, since liveaboard itineraries move fast between sites, and pack reef-safe, mineral-based sunscreen — reef operators in Australia are strict about it, and for good reason given what you are there to see.