"Friends Events"

I've become terrible at checking Facebook events, but I recently noticed a feature (on the right side of the screen) called "Friends Events."

Why does the feature exist? Is it so I see all the cool things everyone else is up to, that I won't be attending? Is it so I can see how my friends in other cities are leading exciting, cosmopolitan lives? Is it so I can sit at home crying on the weekends, knowing that the cool kids didn't invite me to their hip shindigs?

I do not know. But I have to say, I'm not in love with this feature.