The never type comes more from type theory and isn't common in other languages (though TS has never). Similar to 0 or the null set, it exists as a "base case" for types. For example, where you have unions of T1 | T2 | ..., the "empty union" is the never type. Similarly, for set theory, a union of no sets is the null set, and in algebra, the summation of no numbers is 0.

In practice, because it can't be constructed, it can be used in unique ways. These properties happen to be super useful in niche places.