This application was made to provide help in controlling such factors and reduce the effect of degrading performance when possible. This can be caused by many hard to predict factors, such as system state, availability, CPU state, heat and many many more. Even though these are all positive changes, it sometimes creates a situation where an end user is not getting top performance when it is required (delayed performance boostboost). Considering significant change in technology and expectations from the hardware, CPU's have gotten a lot of new features such as TurboBoost, SpeedStep, Hyper-Threading and individual core state/s that help to reduce power consumption and heat.
However, in the modern world, power consumption sometimes takes a higher priority than performance output.
Back in a day, most computers were desktop machines with the main goal for the hardware, to offer absolute best performance and there was no real need for technologies such as SpeedStep, Turbo Boost etc.