Don't get your panties in such a wad Z !!

PMC is the manufacturer & it is known as a "high pile" die cutter because of the type of the very specialized tall-knife cutting dies it uses. It's used for cutting a 3-5" tall stack of material (paper/plastic/label material) into specific shapes with a single stroke of the machine. A very common use for these is in doing 100s of shaped labels or credit cards with a single machine stroke in like a second or so

BTW, these retail new for like $60k, this one sold rebuilt for $32k and a shop that does a lot of different types of work with one of these can easily invest more than the cost of the machine in cutting dies. An "average" cutting die will run $1-2K and the more exotic the shape of the product, the higher the dies become.

Just making the cutting dies for these machines itself is highly specialized and there are relatively few shops in all of North American that even make 'em. Making the cutting dies is a very artful/metalurgical process and quite involved requiring a pretty extensive knowledge of metals and a high degree of craftsmanship in insuring they will last a while, which at the prices they go for even re-worked is certainly important to the customer