It is a way to switch into a different configs. Just like when you switch to a new set of packages when you update your channels (or flake) and you get activated with the new versions. Same thing with specializations, just you can choose to have a different set of packages activated and enabled in each different specialization. Like having multiple different configs in one.
Oh, like docker compose --profile (loosely). Is that useful here? I'd think they would just make a flake/module that adds Flipper stuff and include that to the initial config.
It depends how much of that is services. If the device is hardware constrained, having an option to boot into a different set of services can be useful. Like a way to have more than a single lean thing, instead of a single bloated one.