The ring row is known by many names, including body row, horizontal row, and reverse push-up. It is a valuable movement to have in your toolbox, as it provides a functional and effective horizontal pulling motion that is hard to duplicate. Its applicability to sports such as rock climbing and wrestling is fairly obvious. Its value extends to other sports as well, as a means of correcting muscle imbalances, improving midline stabilization, and training it provides an early stepping stone toward harder skills. Bulgarian gymnast Jordan Jovtchev describes it as a good movement for "creating the muscles for the front lever."
It is also a great movement for developing the strength required to do a pull-up. It is a good complement to working assisted pull-ups with a stretch band or assisted pull-up machine. It is also helpful for people who can do kipping pull-ups but struggle with strict ones. If a workout calls for pull-ups, you can scale it for non-pull-uppers by simply plugging in the ring row. For some trainees, a 1:1 substitution might be difficult, because no kipping is involved here. Start at a 1:2 or 2:3 ratio of ring rows to pull-ups, and see how it modifies the character of the workout for a given trainee, and adjust accordingly.