Obviously it is a cheap-out as compared to having adjuster screws, but also is more robust against rough handling or corrosion.

There is a bit of extra time spent when trying to get a pair of these axle-stop things adjusted to keep the wheel centered. Sometimes I even use a few swipes of a rattail file to achieve the final adjustment.
Also, these things seem to get knocked out of adjustment on occasion, from their contact with the axle.

My biggest beef with this type of adjuster is that, since it is on the driveside, you sometimes get interference with the freewheel on wheels where you have carefully optimized the axle spacing to achieve the minimum of driveside axle protrusion.
So, after trying to build the strongest wheel (for best rim dish and shortest axle protrusion for less stress on the axle), upon installing the wheel, I end up having to spend much extra time sculpting the nut or bolt-head portion of either the claw hanger or the axle stop with a Dremel grinder, so that the rotating freewheel body won't bind against the hardware on the inside face of the dropout. This has been an issue with the various Asian freewheels that I prefer.

I believe that a single axle stop is always put on the driveside because of the chain tension being applied there, otherwise it would make more sense to perhaps use a single axle stop on the non-drive side, since the driveside axle would end up in the right spot as the wheel was centered.
The driveside chain tension really doesn't make centering the wheel (with the axle stop installed on the non-driveside) that much more difficult however, as long as one heaves down on the saddle with their shoulder while centering the wheel and tightening the nuts or the QR.
I use knees, toes, shoulders and hands in different combinations when working on different-sized bikes, in order to settle the wheel in straight while securing the axle. Some are not so easy, especially when dropout alignment is sloppy or when the axle nuts use fixed, integral toothed washers.