not really its only purpose is to hold the rack in place when you cut it and there isn’t a fixing close to the cut end, stops it flapping around and banging on the rail
some say its a mechanical stop to stop the lift running off the end if it over travels, but that’s why there is a gap (should be a gap!) in the rack and the end of the rail, so the drive pinion falls off the rack and just spins in space stopping the travel! sounds like and feels like a jack hammer going off under you when it happens!
