Being able to store a set of chisels, and then have the holder be the bench organizer while using them is helpful. Not only does this mean that the chisel is right at hand when you reach for it, but no more having the chisel roll onto the floor in the shuffle for other tools.
One of the benefits of teaching is learning from students. Fairly early in my years of teaching college wood shop, a student, Thad Vance by name, came up with this idea for holding chisels. Thad made one for both of us, and I’ve been using mine ever since.