Texture Streaming - purpose

Unreal Engine Asset Creation
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#1

Can any render experts chime in, when and why would you enable texture Streaming?

I understand that it enables more efficient use of memory.
Does that mean it is primarily useful when targeting mobile platforms and if you are targeting desktop you can safely ignore?

#2

You would enable it on every project, where having all textures from the same level loaded at the same would exceed video memory budgets.