It's difficult to overstate the importance of this and similar primer texts from this period. Every literate person not only in China but elsewhere in the Sinic reading world would have memorized this as a child. You might not speak the same language, but you could both read and write this set of 1000 characters.
Was also used for a Keno-style game that spread across the Pacific! https://games.porg.es/games/pigeon-lottery/