I think it sole purpose is to further segmentize a group of Qualifications, but instead of using a QK (which you can't assign to a P or S/C object) you'll use a generic Q and assign specific Qs below it. (belongs to)
As for the the impact in LSO, it does nothing. In the above example, if you assign the generic Q to the position requirement of an employee, the profile matchup in the Learning Portal only shows the generic Q as a requirement. It will not 'inherit' all the specific Q objects under the root Q as additional Qualification requirements.
Same behaviour when you display the Emp/Position profile in PPPD.
Cheers
Stephen