In fact it's not. The name itself mimicks cat, not less. It's a filter that adds annotations to its input, such as syntax highlighting, git diffs and special-char coloring.

Personally I can't find any use for bat: I'm a devote user of vim for editing, and it already does all of this, so why not using it to view files as well? It's satisfying to have the same interface, colors and shortcuts whether you're editing or viewing!