Guild Wars 2

Is this item useful for anything? With the extensive waypoints in this game I can’t even imagine any reason for this item to exist.

You can teleport to a friend that is somewhere you haven’t been and thus don’t have WPs close-by.

If you have a friend deep in the expansion area and you also have the expansion, you can get to the first waypoint in that area then leap one of your alts that don’t have that area to him. I might ask a friend to waypoint near a temple in Orr so I can jump my brand new Revenant there and buy it armor. Hard jumping puzzles are one possibility also.