This protocol becomes very useful in situations where other people have been down the same road as you - things like business processes, development processes, hiring, dealing with employees, raising money, investing money, etc. However, it also provides a nice boundary for giving advice - only share experiences, never share opinions. So, when I'm asked for advice, I listen careful, and try to see if I have any relevant experiences to share, or I try to think of who might be better suited to share experiences.
Further, when I am asking for advice, and someone lends an opinion that seems interesting, I ask pointed questions about this persons experience to determine how I will weight the input, and whether the experience indeed does apply to my situation. So overall, I've found experience sharing to be a relevant boundary for giving and receiving advice.