For the folks that are running very low nutrient systems (usually the SPS freaks), the granular ferric oxide (GFO) products like Phosban, Rowaphos, etc. can be a useful tool for keeping phosphate levels very low. Other than that, IME you don't generally need to bother with these types of products in a well run system.
IMO, many people - especially those new to the hobby - tend to overstock, overfeed, use cheap (ineffective) skimmers, don't do water changes, don't use pure source water, etc. and these are generally the real issues behind elevated nitrate/phosphate levels and algae problems in many systems.
JMO of course...