Long ago I was reading an explanation why twisted pair is batter than just a pair of wires. That text was discussing long distances – miles or dozens of miles. It said that two wires in parallel acted like a capacitor, so whenever the sender wanted to send a pulse and raised the voltage that long "capacitor" would take some time to charge and so the receiver would see slowly rising voltage instead of a pulse and when the pulse ended at the sender side by quickly lowering voltage the "capacitor" would continue discharging and so the receiver would see slow decrease in voltage. So transmitting short pulses was just impossible – pulses had so be impractically long.
How fair is such explanation and comparing a long pair of wires with a capacitor?