It was a safety feature JP. Imagine riding down a dark country lane at night and the headlight dies on you.... on a tight curve no less. This system automatically switched power to the high beam.... at a reduced current so it didn't blind oncoming traffic. At the same time it turned on the headlight fail light to let you know the low beam died.
I've got it set up and working on my SG. and it really works as advertised.
You gotta remember the era this came from. Automation was a "thing" back then. Everyone wanted to get in on it. I reckon that given the tech back in the day, Yamaha did a pretty good job of it.
50yrs on it ain't such a "shiny object" anymore... but back in the day it was a "cool" feature.