No Mark, i would never think of it as an essential tool for bowl turning.
Non-essential uses.
Think I've seen it used to quickly rough hollow out the middle of bowls, (but more often a stouter Beading and parting tool or Bedan was used). Could see me using a Beading and parting tool if I used scrapers and not gouges to turn a bowl, but again have never used this method either.
To part cff a small bowl, where it wouldn't involve too much of an overhang over the tool rest
I think quite a few turners might use a gouge to cut into the side grain then a skew to profile chucking points rather than a parting tool, again for reasons of too much overhang over the tool rest.
Otherwise, perhaps decorative as Pete suggested.
Each to their own as they say, but never could a parting tool be described as an "essential" bowl turning tool ... surely?