What is the use of Magento\Framework\View\Element\Text\ListText class in Magento 2?

Magento 2 You can see ListText class at Magento\Framework\View\Element\Text\ListText location.

ListText class file used to Render the HTML output.
When you go to ListText file, You can see the syntax under the toHtml() function,

ListText will return all of its child by an iterating loop.
Find an element in layout, render it and return a string with its output to the system.

Real Example:

You can check the sales_order_view.xml for an admin Sales order.

<block class=”Magento\Framework\View\Element\Text\ListText” name=”order_item_extra_info”/>

When you log the child layout for Order View Page, You can see child layout used for Order View page,
giftwrapping_extra_info
gift_options_link
sales_order_view_invoice_grid
sales_order_view_creditmemo_grid
sales_order_view_shipment_grid