I know furniture builders use this type of tool to hollow out the inner curve of a chair seat, and wooden boatbuilders would also find it useful for all of the inner curves they work with. I am thinking it could come in handy for luthiery, either in carving necks where I use a spokeshave quite a bit, or in hollowing out the inside of an archtop soundboard.
The modern versions offer an improvement in the addition of a handle above the blade- this would give more control of the cut. At any rate, I think once I tune it up it should be a joy to use! The handle is very comfortable and feels massive- like it has the right mass to balance a steady pull.