I've been using Macs for 25 years, and "UNIX" since OS X 10.0.. but I've never really thought much about chroot, nor have I ever really needed or wanted to...
It's a simple question, but... under what circumstances would one opt to use "chroot" on a Mac? It is indeed a built-in function from the BSD days, but I've never heard of it being used... Is the functionality part of another command-line or system-level tool that obviate the need to chroot? If so, what is the equivalent function? If not, why does it seem to never be used, referenced, or needed?
There are two main categories of uses for chroot (the Wikipedia article goes into more detail):
Both kinds of use cases are rather specialized. Chroot is useless to most people; it's there because it's useful to some, and it's very cheap to implement.
I use chroot on mac os x to test some softwares, or to test packaging of projects I am involved with (to e.g. test installs on 10.4 while I am using 10.6).
How often do people want to open up their personal systems for others to access? Most of the time, chroot is geared towards servers with lots of different users. However, if you wanted to indeed setup a local SFTP server for users to access your personal system, then you should definitely chroot it.
Maybe this post will start you off in the right direction:
http://hints.macworld.com/article.php?story=2004110314282345
One of the common use cases is build software or even a full OS. For the same reasons, you may need to control or limit the visible libraries and frameworks and apps and resources