The density filter is very useful in my opinion.
Let's say you want keep your lens aperture fixed and you exposure time constant, or not too short, as you may need to so some masking. With some thin negatives, or if you print small you may need it. Or you could print the same photo with different sizes and keep exposure and masking times constant.
I don't flip the panel, because it enlightens the roof of my darkroom.
Sadly, if I keep it closed, some light spills on the floor..