This hitch draws up without having to work the hitch snug to form a strong, secure hitch that will not jam. It may be used as a way to tie a smaller rope to a very large rope. The smaller rope should pull left when tied as shown here. Push a bight through the final tuck to form a Slipped Sailor's Hitch.
As just an interesting exercise, you might try tying this hitch (and the next) as a loop knot and see what happens. Just loop around the rope and hitch the rope to itself. The loop would form to the left when tied as shown here.
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