I can absolutely see how it's useful to my dad, who always has a million tabs open. I will probably use it sometimes too: Every couple of days I need to go to recently closed tabs or use shift+ctrl+t multiple times. I like that it's not on the starti...
They probably want it to show up only when the tab bar is full. I, for one use multiple pinned tabs and to see which one is which, this list always useful for me, not only when tabs are overflowing.