It is a simple tool used in many Western countries with hundreds of years of history.
The reason for the slight protrusion of the blade is so that the plane body does not bind on the side of the cut, which would result in the side wall of the rabbet not being perpendicular to the bottom.
They also are commonly equipped with a spur, which is designed to score the wood as the rabbet is cut, giving a cleaner corner.
[1] Rebate planes are intended for long grain cutting and are generally set up to remove large amounts of material quickly.
[2] There are a few variations of this plane, including the duplex rebate plane, which has two locations for the blade: one in the middle of the body for normal cutting and one at the front to allow cutting into corners.