This function serves two purposes:
# It creates a rateable widget and three data containers on the selected element with the specified options.
# If called on an element that already has a Rateable object it will set the specified options on that object.
You could use this to initialize the object before the data has arrived and fill it with values as soon as they're available:
Allows you to place an interactive "rate this [whatever]" widget on your wiki pages in the form of a star rating.