You would use this to train your own CLIP/ALIGN model, most obviously, to give you image classifiers on steroids. DALL-E/M6 would also be trainable with this. (All at a smaller scale, but this is a good starting point.)
11.6M images with 37.6M captions isn't exactly small scale. Isn't it within an order of magnitude of DALL-E? I seem to recall something like ~47M images, but my memory is often off.
I think the DALL-E dataset is 250M images. I think a possibly bigger issue is that the captions in this dataset are spread across many languages, which isn't ideal for doing something like DALL-E.
(For 47m maybe you're thinking of a cleaned subset from YFCC100M or something that one of them used, but they all use total images an order or two larger than Wit.)