It's odd that this exercise isn't more popular. There's less restriction on weight compared to dumbbells or kettlebells, and it's easier to do than the barbell sumo deadlift, where many struggle to maintain proper form and end up training low back harder than glutes.
This version allows you to lean forward, keep your weight on your toes, and power through with your extension. This activates the glutes better, and makes it more advantageous for athletic performance.
If you've been around weight training for any length of time, you've probably read or tried an arm specialization routine. There are a bunch of these around with different cool names for what amounts to the same old shit: do a bunch of arm exercises. Yeah, the exercises change and the sets and reps change, but it still amounts to just doing more arm work.
A beastly set of traps is a sign of a serious lifter, but too much shrugging can cause postural problems down the line. Is there a perfect trap exercise that builds a serious yoke, without the drawbacks? Check this out.