No I have not heard of it, and it's genuinely baffling! Which consortium thought this up? I don't see one sensible reason to do this apart from just random tinkering or malicious purposes.
Overall it’s not a bad idea if devices need network connectivity. Have one central “box” get an Ethernet drop and it acts as a switch for your tv/xbox/playstation/media player/etc. The spec was made back when A/V receivers were more popular than they are now. It would cut down on a cable per device.
If OP means an exploit/hack then that’s a bit different.