I too don't see how it is useful but it's certainly a thing. The Solaris implementation looks like this:

    #!/bin/ksh -p
    # ...
    cmd=`basename $0`
    $cmd "$@"

I just noticed that the what(1)-string (I haven't seen on of those for a long time) references "alias.sh", perhaps this is a clue?

    #ident  "@(#)alias.sh   1.2     00/02/15 SMI"

Were builtins actually aliases in an early shell? I still don't understand how this works though.