Practical use (example):
you have a router running on a solar system or on a battery, that collects and sends data via 3G USB dongle (that is quite power hungry).
To reduce power consumption you can switch on the 3G USB dongle just when it is needed and just for a few minutes during the day.
Important to say that this will only work with hubs that are capable of individual power switching (in contrast to ganged or no power switching capabilities at all).
And probably you want to enable Power Management in your kernel and use Power Efficient Worqueues by default to reduce a bit more of power. That's what Android does by default. The kernel Power Management can do things that hub-ctrl and hd-idle can't. Schedutil promises more performance per watt so maybe want to give it a try.
That's a note for some people that want to build a custom image to save power, tho. Not part of the OpenWrt kernel.