That is definitly one of it's functions. Another function is that if you have a performer that is not at the workstation (due to noise), they are able to control the mix in their headset without having to rely on you or having to walk across the room.
If it suits your purpose go for it. I don't think there is any specific way that you have to use it. If everyone plugged in can be served by it being in the rack then it will be a viable solution for you.