Company Name field inside Contact Form - not linked, unclear

Hey everybody,
I just found that inside the Contact form there is a data field “Company Name” which is not linked but to be filled in manually.
Isn’t a contact usually linked to a customer, supplier etc., which is a company as superior entity, and shouldn’t the mentioned field be filled in automatically?
In case the contact is linked to multiple places, maybe there should be a drop down selection to chose from, but the way I currently see it, entering data manually could cause inconsistencies, especially in case of later changes.

On the other hand, maybe I misunderstand the concerning field. Please clarify, anybody who can. Thank you.

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I just come across that page and I found it interesting too. Why do we have Company Name on contact?

any hints welcome