The staff is similar to a Mind tiara in purpose, as the staff can be equipped in the weapon's slot, allowing players to left click on the altar to get inside, saving an inventory space. It cannot be used as a substitute for mind runes.
Jagex had also said that the staff can also be used for "distracting the eyes in the Abyss to help you sneak past".
If you are using this weapon in a Player versus Player situation and are killed, the weapon will not show for the opponent. However, if you run back to where you have been killed, you are able to pick the weapon up for future use.