You can program your mod chip to act on this and keep your fingers free to focus on more important clashes and actions related to them. Things like running constantly without having to constantly keep one finger on the button.
The hotkeys also allow actions that aren’t necessarily allowed in a normal controller, hotkeys can be used for multiple movements, simultaneously. Hotkeys, in the simplest language, are buttons and keys on your controller that control steps and movements of yours with very little effort, if you compare them to buttons on a regular controller.