Ummmmm...isn't "Hairpin NAT" an analogous term for the OpenWrt term "NAT Loopback"???
Using this firewall rule as an e.g. - it allows access to an HTTP server using its public IP or global hostname (which should resolve to its Public IP) from LAN:
Rebind protection means someone setup a LAN IP in the global DNS...that may be likely; but usually NOT the case - because this can cause security issues if not really needed.
The most common use case would probably be for routers connected to networks with Private IP address and internal DNS servers giving out Private IPs of Private servers (i.e. no Public Internet).