With this option, you are positioning your inside player at the free throw line or elbows (think Princeton offense).
This can really open up cutting to the rim since there is nobody on the block at all if you line up this way.
This is also a prime position for the inside player to set screens for cutters going to the rim after they pass. They are in a great spot to set ball screens as well.
You can also pass to this player and use them as a facilitator/passer from the high post spot.