Moral patches, or maybe a name patch. How do you like it?
The velcro is evidently for attaching patches, in case you either like wearing cool guy patches or need to mark the container in some way.
OK. I get it. From where I stand, the velcro serves no practical purpose. It adds complexity and cost without benefit.
I bought it when I read that it could fit my 70-200mm lens. Currently, I am using the stock lense case modified to fit on a milsurplus load bearing belt. I like this solution MUCH better.