It allows you to get more charge cycles before the battery starts to lose capacity from wearing out. This is effectively the same thing as what happens when the battery starts to lose capacity but it gives people the sense that they’re in control of it. To speculate a little, phone manufacturers know that battery degradation is one of the most common reasons people get a new phone. Some people like to get a new phone every year but for most it’s an inconvenient, boring expense. The manufacturers have all decided that replaceable batteries are not coming back so this is a gesture toward doing something about that. This feature was probably very cheap for Apple to develop and while it doesn’t really help it’s not hurting either. In the past apple has put out software updates that actually slowed down the processor in older devices to “save battery”. It’s been a while now but Apple customers were rightly pissed at them when it was confirmed.
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