Lsoe serial key for mount and blade

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No seriously, either I'm dumb or this makes 0 sense. Ok, am I the only one who doesn't quite get it? What is the actual, practical purpose of this? To voluntarily check our own serial keys? Why? Let's assume we're pirates or something and just ignore it, what's going to happen than? What is the potential recourse intended? How can someone possibly punish a bad mod user this way? Why would dishonest people check themselves, knowing they are dishonest? How is this supposed to work with user modifications, unless it's embedded into an installer or something?