The above video is a specific auto rule that can be setup when keywords have a bad average position and you would like a notification instead of having to check on a regular basis.
I will be covering auto rules in more detail, but this is only one small example. you can cover most things using auto rules (not just average position) and it doesn’t have to send an email, you can actually decide on a specific action e.g. if average position is above X then increase bid by X percent.
That being said, I do actually think this is a useful rule to have setup. If you have an average position which is very high (negative) then the CTR is likely to be below average, if that’s the case it will be viewed as less relevant and will therefore be more expensive. You can set your criteria however you choose e.g. average position worse than 10.0 then email each month, but I do think it is worth implementation for your campaign, so you know which keywords are far down the page.