I doubt its made for any specific purpose, rather its a general purpose hand reamer mostly intended to enlarge existing holes in plastics and soft-ish and thin-ish metal.
I bought one to add to my collection because the small diameter was less than 1mm, most of the ones I have start at about 3mm but this one is ideal for opening holes in PCBs. The one in the picture does not look as small as 1mm but is otherwise identical. One thing to add is that mine is razor sharp and seems accurately ground right to the tip and will actually create new holes quite easily.
Ian P