This feature isn't about security. Email is already pretty secure with TLS and DKIM. This is basically the equivalent of the "DO NO FORWARD" header people use for internal-only information but with a little more UX polish.
Personally, if I had a message where I would consider a tool like this, I would just encrypt it on the client with PGP or something.
Yes, but ordinary decrypted messages don't claim to have superpowers like self-destructing.