It’s a less expensive way to get a USAF flight demonstration to places where the T-Birds aren’t scheduled to go. The Navy has a similar program. I’ve seen both at air shows. Not as good as T-Birds or Blues, but still pretty cool and good publicity for the USAF/USN.
Its actually a great program. A single Fighter makes an appearance a a smaller air show. We had to shut it down during sequestration. I am happy to see its operation again.