My Michelins have this and I think it’s a great idea. It allows the wheels to sit back a little from the tyre wall so they’re protected from curbing. If you have a choice of with or without and you have alloys, then with is definitely the way to go.
Rim protection is where the manufacturer has added additional rubber just above the bead area of the tyre and is intended to prevent rubbing, typically when parking against a curb. Most road tyres have this sort of effect naturally as the bead is recessed
This is a typical road tyre
Rim protection generally adds a little more depth by adding rubber thickness below where the writing is on the side wall.
You can see similar thing in this rally tyre section
In this instance it is designed to prevent stones getting into the bead seat and deflating the tyre but the principal is the same.
It is all relative though, rim protection is only designed for low speed accidental rubbing and not for clunking up kerbs. It is quite possible to still scrape and scuff alloys even with this feature and common to see cars with great chunks out of these where drivers have been careless.