Yes that has been mentioned but I don't buy it. The object itself resembles a doodle in the margins, something from a creative mind on autopilot. The rationality of the 'exercise' answer is pleasing to the sort of person attracted to solving puzzles, which makes me sceptical of it. Rationality is optional when solving human behaviour, and if you put it aside for a moment, the 'exercise' doesn't make sense from an artistic point of view.
The shape is fun, whimsical, pleasing but apparently useless. Craft is rarely taught with such abstract whimsy and art is rarely taught with such conformity. Meanwhile artists can become irrationally hung up on a subject for a whole lifetime, and people can irrationally imitate things they like. Already one poster has made one for themselves without having any purpose for it. I think that proves the thing has an inherent mimetic appeal which might be enough to explain why they exist.