I also cannot help myself but look down at people that don't use it, shoelace normies.
You can use it to have looser / tigher "zones" or specific areas and optimise the fit of well fitting shoes and make shoes that dont fit temporarily useable. Also great for hiking when you might want a slightly looser toebox for general use and then tighten everything down when switching to a steep downhill sections.
Also a game changer for snowboard boots and why I prefer traditional laces vs speed laces or boa systems. I can see why they are popular there though - most people wont be using fancier lacing techniques and have two adjustable zones (speed laces) is better than none.
I think its the same Knot. I really like Ian's Secure Knot too: https://www.fieggen.com/shoelace/secureknot.htm
"Hey, that's the Ian Knot!"