Administrators use it to list plugin versions, update components, check core integrity, manage users and run maintenance in scripts. It is faster than the dashboard when many sites are involved.
WP-CLI runs under the PHP command-line environment, which can differ from the PHP handler that serves the website. Run it as the site's own system user, point it at the correct path, and do not assume its PHP version matches the web-serving one.
Output can contain usernames, paths and settings. Treat it as sensitive when sharing it. After a suspected compromise, also check that the tool and its packages have not been altered.