Quite literally. One of the most obvious applications of this is creating asynchronous multiplayer browser games.
Since all we get is TCP right now though, you can take advantage of that at least and easily do things like send deltas instead of absolute positions, and even things that depend on reliable order of transmission (which you can't rely on if it were UDP), in order to reduce bandwidth use.
If people really wanted to send data over this weird semi-HTTP websocket protocol then someone could have implemented it as a js library on top of proper socket calls.
I'm guessing the main issue was cross-domain security, but I would have liked to see this solved using some sort of policy file that can be requested from the domain before connecting, like Flash does.