Raidbots stores various settings and preferences in your browser - things like the last Armory character you used, simulation options, etc.
This page lets you easily clear those settings and get back to a clean slate. The primary reason for doing this is if you have run into a bug with Raidbots and you want to clear out the settings to see if something got stuck.
Yes, this is basically the Raidbots version of "have you tried turning it off and on again"
Partial list of what this will reset: