Pull off your intake and look at all the greasy residue between the valve cover breather line and your turbo.
The catch can traps all the oily blow-by and other crud that gets drawn from your valve cover by the breather, and prevents it from entering the intake tract. It's not a performance mod per se, but it will keep your intake, intercooler, piping, throttle, and intake manifold noticably cleaner.
A lot of people will just remove the breather line altogether, and put a small breather filter on the port on the valve cover instead, but the general idea is that keeping the line attached to your intake provides better ventilation.