This exercise right below this paragraph is an excellent option for for you desk FREAKS out there. Sitting for eight hours a day and then expecting to hop under that squat rack and within a few sets hit a PR? I do not think so kind sir!
Sometimes fitness professionals tend to overplay the damage of sitting on the human body, but the fact of the matter is that a whole day of a passively hip flexed position is not going to do much for strengthening the large group of musculature that serves both as an antagonist and agonist in many of the major lower body exercises.
The iliopsoas also originates from the anterior region of the lumbar vertebrae as well. This means that stretches, activators and a little soft tissue to these muscles have the potential to be moderately effective for those with a "tight" lower back of diffuse low back pain in activities that require general stiffening or loading of the lumbar spine (e.g. squat, lunges, deadlifts).
TAKE HOME: Try these out before or as a superset with some of your most frustrating lower body exercises as they are a great 'break' allowing the tug of war sensation occurring in the lumbar spine ease up, allowing a breather for the erector spinae musculature in general.
P.s. This stretch also activate/grease the contraction of the glutes as that is an essential task to performing the stretchercise (*COOL new word, I know*).