The need for external phantom power such as the Fame PP-1 can arise quickly: With many analog mixers or interfaces, the phantom power cannot be switched channel by channel, sometimes it is not stable enough with devices that are supplied with power via USB and the microphone starts to overdrive, but sometimes it is simply broken. You may also want to connect an active microphone directly to a guitar pedal, the Preamp of an old echo device or a compressor such as the 1176.
The PP-1 is small, well-made and equipped with high-quality components: The housing is made of sturdy die-cast, the on/off switch offers good resistance and the sockets have gold-plated contacts and are self-locking.