This seems like nothing more than a compilation from RIRs. That is: one is receiving registration country of
the AS owner. While there is a high correlation between the AS and location of addresses within it, address leasing and IP anycast make it less reliable. This is very different from e.g. what Maxmind offered in their now defunct database or what market intelligence services sell.
That doesn’t mean it’s useless. It removes pointless load from upstreams and saves users some work. But don’t get a wrong picture of what’s delivered.
The use is also limited. It may be used to set the default options for the client: e.g. legal framework, shipping options, taxation, CDN etc. But not only often these are poorly implemented or outright abused,
(2) Much more often it’s simply used to enforce racist stances or implement atavistic reactions. It bears zero relevance to security: if anything, bloclists (e.g. from spamhaus) are working well. But even them are controversial on many levels.
(1) The most famous example: AS15169 is registered in US, yet many of its addresses are physically neighbours of AS5617 in Warsaw (Poland). You may recognize this ASN from 8.8.8.8 being in it, but it’s much bigger than just the DNS service.
(2) eBay is a good example of both. Services facing registered users get confused and you receive a mix of two language versions. On top of that eBay limits service’s features based on your location.