You would typically see them used by HVAC techs or anything involving hydraulics. They can help from damaging brass fittings and such.
Yup those are from like 30 years ago. The first ratcheting wrench. One direction locks them in place, the other opens it up at the hinge points. They ****.
I can tell you a new set that size is probably about $150 or so. Quite a few places sold them, even had them on the tool trucks.