I've got one like that I used when I was on the drawing board. Same function but slightly different mechanism than the more symmetrical ones with the the adjusting wheel in the middle. Those look like they were used for layout work and I've done some of that too. That is, scribe a circle where a hole is to go. If there are different size holes in a number of locations, scribing circles of approximately the right size reduces some chances of plugging the wrong drill size somewhere.
"In theory there’s no difference between theory and practice. In practice there’s a lot of difference.” Yogi Berra