It looks like a roadie version of cushcore that has been used in mountain biking for a number of years: many of the pro racers and freeriders use it because it increases their chances of getting down safely if they suffer a flat. It also helps prevent the tire rolling off the rim so easily. Obviously, they also don't have time to stop and fix the puncture, so they need to keep going.

Does it have an application on the road? Possibly, although I'm not sure its needed as most [non-racing] people carry spare tubes of repair kits. I can see the safety aspect if you flat at high speed, but people need to decide for themselves if that's a big enough concern for them.

Is there a use in the pro Peloton? Isn't the "run flat" capability the reason most use tubs?