In PT when you duplicate a track you get a choice of selecting which parameters to duplicate. Among other things you can choose Automation, Inserts, Sends, I/O, Playlists (audio files/clips) etc. You do this by checking/unchecking boxes next to each item.
I find this to be useful in situations where I may have a track of narration for one spot (commercial) and receive a new version but suspect the two to be identical. I can quickly duplicate everything except for the actual audio and have all routing and inserts that I need, and then I simply drag over the audio from my newly imported track and compare the two lined up, for example.
I’m sure other people can find other examples of where it’s useful to duplicate the track but not with all parameters.