Hello @aem101
AEM dispatcher is primarily used for request filtering and caching.
Although dispatcher + Web server are capable of performing Load balancer role, this responsibility is now generally out-sourced to Load Balancers.
You would notice many sites using CDN in front of dispatchers. Many sites using dispatchers and publishers with one-to-one mapping. Hence, you would notice a shift in primary responsibility of dispatchers from a load-balancer tool to other roles.
For details on responsibilities of an AEM dispatcher, please visit Content Delivery with AEM Dispatcher: A Beginner’s Overview – Adobe Experience Manager Blog (techrevel.blog)