The context is that this is a feature cribbed straight from perl, where where it's passed down from perl 4/pre-5.6, where compiled regexen weren't first-class values. Pretty much every use of it this century is a mistake.
An HTTP application server matching routes based on runtime configiuration (domains and whatnot) is not really that niche or contrived? Loads of other situations where input not changing during the thread/process lifecycle is part of a set of hot regexes large enough that explicitly compiling each is not a great experience.