It should be there per spec
It's a simple single-byte encoding despite its name
Can be treated as a single-byte or algorithmic
Spec: https://encoding.spec.whatwg.org/#x-user-defined-decoder
The usecase for that is old compat loading of binary data over strings, as it can be then decoded easily (and TextDecoder does not expose isomporhic, and latin1 maps to windows1252 and is actually non-isomporhic and complex to decode back to bytes).