What's the benefit of this over netcat + mkfifo?
1. It gracefully supports each side of the tunnel turning on and off.
2. It accepts any number of clients, and forwards them through the tunnel.
3. It recycles the shared file.
As for the uses, see the three author listed. For example, by using a file share as transport you may evade firewall.
mkfifo /mnt/shared/connection
nc localhost 12345 > /mnt/shared/connection < /mnt/shared/connection
Seems the same?