It's used in the Solaris init scripts for shutdown, shortly before the system tries to unmount all mounted disk volumes.
I made the same mistake nullc made once, as I was more accustomed to linux than solaris. That was after hours and the effect was immediate, but it was still a pretty jarring and memorable moment.
I oversaw a Solaris machine for a very short period, and never got any reason to use it. But if you can change the signal, sending SIGHUP into everything looks like reasonable thing to do.
Still, it's not something common enough to deserve it's own program.