Interesting, but I just enabled the guest account on my XP Home system and tried it. The NET USER username * command gets kicked for lack of privilege. I think any account this works for will also have enough privilege to change all system passwords using the Users control panel. On an XP home system, that will be anybody but the Guest account. I don't have an XP Pro system to test.
So it looks like this is just a command line way to do what you can already do with the control panel.