Recently open sourced, but has been used for twenty years in real products from MS and others. It's not so crazy as you might think!
An example of a real use I had for it: redirecting messages from OutputDebugString to a log file. AFAIK that is the best way to do it, when you only want the output from your one process. "Why not just call a proper logging function directly instead?" Because the OutputDebugString calls were coming from inside my GPU driver. Real life is not some ivory tower of perfection. An imperfect world requires imperfect solutions.