It is the equivalent of pouring sugar in a fuel tank, except that there are people who think fuel tanks USB ports should be protected against that.
(And, like fuel tank caps, USB and Ethernet ports should be physically protected against use by idiots and vandals and other vermin.)
Before USB, there was the Etherkiller: An RJ45 on one end, and a mains plug in the other, BOFH style.
The one sensible use for one (USB or Ethernet killer) I can think of, is as destructive test gear when you are developing something to allow interfacing possibly nefarious devices. (For USB, that means limiting the types of USB devices that are enumerated, to e.g. storage devices, and possibly keyboard devices if you wish to allow password keepers. For Ethernet, robust magnetics and a design that keeps damage to within the single port.)
I'm pretty sure you could do a Mainskiller also, maybe using some clever power circuitry to double the AC frequency or something. It'd be the same thing, really, just even more dangerous and destructive.