Yes, as far as I can tell, this change was made to help balance the cost of other provisions in the TCJA. On paper, it would have at least let them claim they'd take in 5 years of extra tax revenue in from tech businesses (most of it in year 1). I don't think it has any long-term benefit for anyone, even the government.
And the changes proposed in the Big Beautiful Bill actually do reverse it, and allow some retro-active (to tax year 2022) relief. So they're trying to undo it, and of course the Democratic party is calling it "a tax break for billionaires", which, of course, it is. But that doesn't really tell the whole story, either.