Nobody actually needs to use browser history until they do. That is, it's not something that most people do quite often, but when you do need to find that one article you remember reading a week ago but aren't quite sure where or what it was titled you'll be glad to have it.
Still, the history tool in most browsers hasn't gotten much love in recent years and this goes for Chrome as well.
Google is working on it, a revamped history page is in the works, this is made easier by the fact that all Chrome settings and internal pages are now simple pages and not modal dialogs.
The revamp seems to be coming along nicely, it's not quite ready there and it's not enabled by default, but it's getting close now.
If you want to check it out, you have to run Chrome with the "--enable-grouped-history" switch, the option is not even available in chrome://flags. Alternatively, you can check out the screenshots provided by François Beaufort.
These latest changes are only available in the latest Chromium builds, but should be landing in the dev channel Chrome soon.