This device is far from a modern invention. Apart from Leonardo Da Vinci who describes it in his notebooks, even Aristotle understood the optical principle of the camera obscura.
In the 17th century it was a fairly popular aid for painters to help them to project an image. It was only from the first half of the 19th century that people began to use them in combination with photosensitive materials to take photographs. Nowadays it is mainly used in art projects or to entertain, either by building or by using one.
I've always wanted to build one myself. It took a while, but I think it was worth it.