Earlier quoted context omitted.
When analyzing traffic sources for your site, you could use this to remove noise created by privacy conscious users. For example, if you wish to evaluate the efficiency of a magazine add, today you can't distinguish between ad conversions and privacy conscious users. It'll take a while for clients to be compliant, if they'll ever be, though.
> if you wish to evaluate the efficiency of a magazine ad Sorry I still don't get it. No referrer or about:blank are both "noise" in such case, I still don't see how the distinction is useful to the server to evaluate efficiency of a particular ad.
"No referrer" means "A referrer may have existed, but inclusion of that information was explicitly declined as a part of the request".
Both are useful.