Think of it as a more 'cost effective' starlam. you end of with 'very' little waste (think teaspoons). It was built/Sized for a 44" Aqueous Printer.
I have not used it for Photo work but would like to; for the times you 'know' the work will need some Protection. But I'd still have to source that optional bar.
Still, an argument could be made for Lamination when more extreme protection is needed. You can use much thicker, more durable materials, if needed.
I guess they both have their places. I personally feel that Artwork isn't Artwork until it it mounted. So, maybe the method of mounting could steer you to the more desirable method. If the edges were exposed, I'd probably prefer the Liquid. If the work was going to be exposed to someone who decided to throw and break their Beer Bottle up against it, give me the Roll Laminate.
Let's let the circumstances play a key role, also. Of course, there are also cases where a Large Photo can be hanging bare and exposed with the viewer getting up close and personal and that would be the preferred method to BEST enjoy the Print and all of its' Splendor.