It's the modern libertarian dream.
There is nothing libertarian about conning people or "creating a middleman where one isn't needed." If you believe that, you have been badly misinformed.
If people use it voluntarily due to marketing, then it appears to be one of the downsides of a free market and liberty of choice working as intended. Individual actors in the market are not always rational or well-informed.
>Regardless, this is a shit system and I can't believe anyone even bothered to create it. Also, I've never heard of it prior to today. Who uses this crap?
It's literally a con job designed to create a middleman where one isn't needed. It's the modern libertarian dream.