ferider is correct. It is useful for all kinds of scale-focusing cameras and purposes, not just Leica I's. Numerous companies also made similar items. I presume that a Leica model would have some collector value beyond it's intended purpose.
I find them quite useful for photography with my medium format folding cameras. The trick is to match meters with meters, and feet with feet - that is, the camera and the pocket rangefinder calibrations have to match or you'll be doing math.