The issue of downgrading a wallet came up in a gist related to #11403.
Use cases I've seen so far:
- downgrade future SegWit format to v0.15.1 compatible format
- ~opt-out of HD (e.g. by saving individual keys and deleting the seed)~ (see discussion on #11730)
A separate tool (~or RPC command~) would allow keeping the wallet code itself less complex.