Let's talk about filters - not your usual, souped up, CV controlled stereo-enabled monstrosity, but just regular old filters for EQ'ing and smaller filtering duties. That's this, right here - a simple, passive, single pole -3 dB high pass filter in 0hp awaits you!
What's it useful for, you ask? Any task where you'd like to user a filter, but sacrificing an entire filter module might be overkill. For instance, running your sound through a high pass filter before passing it into a reverb, will cut down on the bottom end rumble and allow you to enhance the sparkle of the reverb.
Ranging from 16Hz to 16kHz, the filter has a useful range set by the pot in the middle, allowing you to perform simple filtering duties by simply inserting it in your patch. Easy peasy, and cheap to boot!