Genuine question: what functionality does this provide that e.g. Ansible doesn't?

With Ansible, one can put the SSH keys into a .yml file in a format that is very similar to the examples in the OP, then the authorized_key module can be used to ensure that the key is present (or absent) on the remote servers. It's really-really trivial. Maybe the difference is that you can paste the SSH key into the CLI instead of a file... hm.