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It is like one big serration, provides more drastic angle change than a standard belly, and if you are performing a pullcut, the recessed portion of the blade traps the object, resulting in a deeper cut.
Basically it is a more aggressive cutter than a similar blade shape that is not recurved
+1
However, with most of the things that you are going to cut, this will not make much of a difference and it will make more sense to have a very sharp blade than one with a recurve.
I am not hating on recurves, I own several, I am just saying that they do not seem to offer much of an advantage.