Like I said, I'm much more puzzled with why this thing was there than it's actual purpose

When I get time I will post an expanded view

Wild guess - A 3D printer?

I was thinking it was some kind of hoist or a "traveller" of some kind. Like the center part of something like this with a block hooked up to it:

I forgot to post the expanded. If you look closely at the left side of the pic it sort of gives it away. Maybe. You guys are all way off so far

Tooth off a combine reel.

No

Pipe threader?

Here is a better pic of it but this really gives it away.

Remember, the question is why not what