It's more 'override right click' and is useful for eg. Google Docs to use application-specific context actions. Unfortunately I agree that most sites override it just to disable it, though.

> I only ever seen to see it used spitefully.

God I hate it when sites do that. There's a service that I pay for which disables right click, spams copyright notice modals every single time I try to copy any text and replaces the text I copied with useless copyright messages. It's so incredibly obnoxious it makes me want to scrape their content off their website out of pure spite.