Being able to use the 'Advanced SQL Calculator' in ArcMap was invaluable to me when doing Production as well as Quality Assurance. Being able to query features across an entire database AND then update them and display (and update too) additional fields to check for validating and cohesiveness across an entire database was invaluable!
When dealing with large schemas which have tons of domains, values and ever changing GDB wide attribution (that should all be the same but that sometimes in production get typo'd) This tool from ArcMap made the entire process SO EFFICIENT and so quick! having to go through individual select by attributes for each feature layer is tedious.
The other advantage of this tool was that I could select ALL the features that should have the same value and then do a visual check of their locations. If I selected all features with 'Value A' I could then make sure by selecting them all that all returned features fell within the correct AOI.
I can't see my GIS life without this tool, it is integral to so many micro workflows in the GDB Schema world.
Running 'Select by Attributes' one by one (for a Schema with more than 15 different layers) is just so tedious. Does not help paint a whole picture of the state of the attribution of a GDB either.