I bought my first label maker, a K-Sun 2001XLB sometime in the mid-2000’s. I believe the main reason I bought it was that I was restoring a Dynaco ST-70 tube amplifier and I wanted to put heat shrink labels on all the point to point wiring connections.
As an electronics hobbyist having a label maker that printed on heat shrink was a valuable tool, and I still do that to this day on many of my projects.
Most recently I have been using it to build solar power boards which I put in my house and in my camper.
Here’s an example of why one would use a heat shrink labeller in electronics or electrical applications: