yes, you could describe that use case as "quarantining" websites in short, but I'd say it's a power user feature if managed manually.
If you install the "facebook container" extension, it's zero conf but it's only for facebook.
Another use case I saw users being interested in, is you have 2 (or more) accounts on a website and you can login in both at the same time in 2 separate containers (you cannot quarantine the website to the container in this use case because you need to open it in multiple containers). You can do that with incognito, but the second one is very temporary as closing the browser is going to log you out.
If you install the "facebook container" extension, it's zero conf but it's only for facebook.
Another use case I saw users being interested in, is you have 2 (or more) accounts on a website and you can login in both at the same time in 2 separate containers (you cannot quarantine the website to the container in this use case because you need to open it in multiple containers). You can do that with incognito, but the second one is very temporary as closing the browser is going to log you out.