This shortcut is specifically for (but not limited to) someone who is using iOS to record a podcast. It will turn on/off Airplane Mode and Do Not Disturb as needed for podcast recording. It reminds you to stop any alarms or calendar alerts because those can interrupt recording and they do not respect DND or Airplane Mode.
This info came from Ferrite's support page: https://www.wooji-juice.com/products/ferrite/support#7