Thanks for asking - it means I wasn't clear enough to explain its purpose in the first place
In PCSX2 there's functionality to have a different configuration file for certain games. You have to copy the ini-files, then specify to use that config on the command-line.
I thought that it would be handier to automate that. By using LaunchboxPCSX2, you can let it create a game-specific ini-files by pressing a joystick or keyboard combo. Next time you start the game, it detects that there is a game-specific config file and uses that automatically. After that, in PCSX2 you can change whatever config option you want - effectively it will only affect that specific game. Next time it will use that game-specific config again.
If no game-specific config is found when starting a game, it'll start PCSX2 with the generic config.
LaunchboxPCSX2 also provides the option to delete the game-specific config again - in case you want to use the generic config again, for whatever reason.
As an extra, you can save and load states with a joystick combo in PCSX2.
Hope this clarifies it sufficiently. If not, feel free to ask