Activating it causes you to start generating shards per second, in PvP and PvE.
That said, it’s usually not needed in PvE as there are usually plenty of shards to activate your gear and take advantage of the buildables multiple times (at least in the two story modes available)
Never actually tried it - I got the “legendary” (orange) quality one - just saw no need to use it, as it’s cost is so dang high to even activate it (more than double any of my two non-legendary mods lol). So yeah - kinda worthless in PVE, even if you use a less pricy one! n.nU
Personally I’ve found the “Reduces Buildable Cost” even more useful in PvE than PvP. I guess it’s very dependent on your playstyle, since I like to build every possible buildable I can find. Especially when I’m playing support. The Gear also very useful with Wolf. And putting on many of the upgrades at once isn’t always a bad idea - there are a few points in the map when Wolf needs to stop and a lot of enemies will spawn - a good moment to pop up an upgraded turret and a shield. Not to mention that the healing shield seems to heal Wolf himself, too.