1. A500 (and A1000) Zorroslot are more or less like the CPU-Slot in the A2000. Some pins have different sense.
2. There had been some cards available at that time for the CPU-Slot (A2620 / A2630 / A20000 and others)
3. Every exp slot on this card could be disabled with the switch at the left
4. REX Datentechnik always had a funny sense of expanding the Amiga (and also the C64). They did a lot of "strange" vards and adapter. (eg they made your Videorecorder to a backup streamer)
5. I could think that it could be usefull for towering the A500
6. Perhaps this card isn't at all for an A500, but for the A2000 and for developers so they don't need to stres the CPU-slot by testing different revisions of the same expansion.
7. I know there are Zorro2 risercards that rise the Slot out of the case. You have to cut a whole for that, but you could test your card without opening the case again and again.