Sure. I own a .460 XVR Revolver. (I got it cheap, in a trade) IF I were camping, where there was a serious threat of a bear attack, it would fill that niche.
I own a Seecamp .32. A NAA .32 Guardian. A NAA .22 Mini revolver. An American Derringer .45LC/410. If I want a gun that I can carry in a pair of swim trunks, or somewhere where I want NO one to know I'm armed, they fill that niche.
Those are two extreme niches. But, the Seecamp .32 would blow for the first scenario. The .460 XVR would look silly in a pair of swim trunks.