That plays a role for sure. It is after all an elimination diet, first and foremost. But it also means that it is a healthier diet. The fact that we do not consume the chemicals, the high fructose corn syrup, the sugars, the fillers, the nuts and grains, the oxalates, the lectins, phyto-toxins, too many (from any source) carbohydrates, etc, etc. It's why a mere low carb diet already shows improvement such as lower blood sugar, etc.
With regards to LDL. High LDL may be considered harmful IF one consumes lots of carbs. That is because the glycation damage from eating carbs cause that release of LDL. Blood tests are USELESS if they consider the "normal" range of carb consumers. And those carb consumers, we know, that most of them are unhealthy. So why look at numbers that DO NOT apply to one, as a person in ketosis and/or fat adapted.
Chasing number on a blood tests is a futile endeavor as those "ranges" are based on an already unhealthy (carb consumer) population.
Another feeling good factor most likely comes from less dopamine response from food, no mood swings and sugar crashes.