What is the logic of Premiere's Timecode effect when it comes to the "Timecode Source: Media" option

When you drop Premiere's Timecode effect on a video track, the default for the "Timecode Source" pulldown is "Media"

What is the logic and use case associated with that option?

Here's why this matters:
There's a difference between frame rate and playback speed.
24fps vs 30fps vs 48fpx vs 60fps, these are all frame rate distinctions.

If you impose a 48fps viz TC on 24fps footage, it would make sense that for every one frame in your 24fps timeline, the 48fps viz tc would advance 2 frames. But seconds are still seconds. At the end of one second, viz TC at either rate should reset to zero, and the seconds would advance up by 1.

Premiere's Timecode Effect in "Media" mode, by contrast will show a time offset that increases the farther along you are in that timeline. That's a playback speed distinction as opposed to a frame rate distinction.

The only time code divergence I'm aware of is between drop frame (dftc) and non-drop (ndftc), but even in this case the whole point of the distinction is to account for a .1% playback speed difference between 30fps and 29.97fps.

And even then, over the course of an hour the difference adds up to about 4 seconds.

When you drop a Timecode effect on your timeline and leave the default "Media" option on, the divergence in seconds really adds up -- 15 minutes per hour, for instance.

Curious: In the grand scheme of production and post-production, what is the use case for "Media" option the Timecode effect?