Also, a flag can be used as a permanent control to disable a part of the system (like an external call) if that part of the system is having problems. Imagine if you had a github activity feed integration, and you wanted to be able disable that feature when a github outage caused that call to take a very long time. Being able to easily disable that feature without needing to change your code can be immensely useful.
nb- I work for LaunchDarkly.