This one stands out more than the smaller Bevel sizes. It can make sense around a larger doorway or anywhere a narrow trim would look a little lost.
You get the extra face width while keeping the section comparatively slim.
The angled section stops the broad face from looking completely flat. It's a small detail, but much more noticeable once it runs around a full opening.
Older mouldings can leave marks or unfinished wall areas behind when removed. A wider replacement may help cover more of that area, subject to the measurements on site.
Prepare and paint the MDF to suit the rest of the room and the coating system you're using.