I totally agree.
It's a great way of overwriting and deleting all the rubbish that has accrued on your IHD. Confidential items that you have deleted which might be recoverable by unauthorised parties for example will be deleted and overwritten in a way that makes retrieval impossible. Good if that is what you want. Good if there was a dodgy app that you deleted but which might be slowing things up etc. But two things to remember:
It takes time. Lots of time if you choose (from the offered options) to overwrite x3 or x7 etc.
Second: let it take its course. On no account abort the process as I once did because you then find that your IHD is full and the only solution is to restore from Time Machine or equivalent. Just be patient. The more free space you have on your IHD, the longer it takes. During this you should not do anything on your Mac. In fact, before you start the Erase Free Space, shut down all open apps.
Don't be scared or put off. It works. It just takes time.
Good fortune.
Ian
Firstly, it is permanent. Secondly, it takes a lot of time. Understandably