Useful, e.g., if you have a company-wide organizational hierarchy of projects, where different configuration managers might want to view a different sub-set of jobs, so there's no reason to manage each view's list of jobs if some views are simply meant to be an aggregate of other views.
Another example is if you have one "special" view that contains utility or legacy jobs, and you want to easily exclude those jobs from other views, but there are no well-defined characteristics of those jobs that you can filter on. With this filter, you can put your effort into creating that special view, and then for other views simply choose to exclude all jobs that appear in that special view.
If you select a view as it's own "Other View" or otherwise create circular references between views this can lead to unpredictable behavior. This filter will warn you if that's the case.