EQ’s with at least 5 different bands (like this one, it has 7) are great for tone shaping when dealing with higher gain sounds. It works like it as a drive pedal on its own, how it can manipulate your drive and distortion.
It is a good tool to have in your toolbox because in other cases it can work as a makeshift attenuator between pre- and power amp, a a slight clean boostor just a good way to be less in the way of your bassist in a band 
I often wondered why so many distortion pedals have so many buttons and only 3 EQ bands.
That’s what I like about Stone Deaf pedals etc, where you have a fun way to control the mid range