I guess some people put it on bagels and such, like regular butter or cream cheese. I guess some people cook it until it turns basically into cracklins and then just eat them.
I was always told that the curds that are left, after you strain off the clarified unsalted butter, are mostly pure cholesterol. This is why you discard them.
Personally I never use them for that reason!
The only bad cholesterol is that which is already oxidized when you consume it. For example, powdered milk and eggs, and overly processed or overly heated cholesterol, as in ultra-pasteurized cream and burnt meat (I LOOOVE slightly burnt meat )