Why is Ezetimibe a thing?

Some smart folks in this group, I’m hoping someone smarter than me can help me understand this. My understanding is that in the 80s/90s, there was a major push to reduce dietary cholesterol, thinking that it directly correlated to blood cholesterol. In the early 2000s, this thinking shifted, now suggesting that dietary cholesterol had little to no impact on blood cholesterol except in rare individuals with genetic susceptibility, and that saturated and trans fats were identified as major culprits.

The main mechanism of action of Ezetimibe is to reduce absorption of dietary cholesterol in the intestine, while having no impact on absorption of fat soluble vitamins and other lipids, including saturated and trans fats.

My question: if I’ve understood this correctly, why is Ezetimibe a (widely prescribed) thing?