RPIT (Return Position impl Trait) is Rust's spelling of existential types. That is, the compiler knows what we return (it has certain properties) but we didn't name it (we won't tell you what exactly it is), this can be for two reasons:
1. We didn't want to give the thing we're returning a name, it does have one, but we want that to be an implementation detail. In comparison the Rust stdlib's iterator functions all return specific named Iterators, e.g. the split method on strings returns a type actually named Split, with a remainder() function so you can stop and just get "everything else" from that function. That's an exhausting maintenance burden, if your library has some internal data structures whose values aren't really important or are unstable this allows you to duck out of all the extra documentation work, just say "It's an Iterator" with RPIT.
2. We literally cannot name this type, there's no agreed spelling for it. For example if you return a lambda its type does not have a name (in Rust or in C++) but this is a perfectly reasonable thing to want to do, just impossible without RPIT.
Blanket trait implementations ("auto impl trait for type that implements other trait") are an important convenience for conversions. If somebody wrote a From implementation then you get the analogous Into, TryFrom and even TryInto all provided because of this feature. You could write them, but it'd be tedious and error prone, so the machine does it for you.