The general intent is to ensure better compliance with freedesktop.org's XDG specification (which is a living, and therefore chageable, document).
The substansive part of the script is mostly (90%+) k[de] -> t[de] renames.
AFAIK initially the script made some conversions, mainly for XDG compliance. Actually the script also ensures that some changes from the new releases have been applied correctly.
For example, there was the issue tdebase#1 (https://mirror.git.trinitydesktop.org/gitea/TDE/tdebase/issues/1) and some related and for the fix to work, Konqueror's icon cache (konq_history) had to be cleared. That is why it is a *bad idea* to force this to run manually. (I think the naming could be better for this script).
-- Philippe