This came in very handy for installing my first tubeless ebike tire. Came with a rubber-sheathed valve like this instead of the ring-nut-tighten kind in all the videos, so I was very unsure what to do. Seems to be working now!
The tool is for cleaning the threads on the inside and outside of the valve, if you've damage them with pliers etc, the screwdriver like part removes the stem from inside the valve so you can replace it if its leaking without removing the valve. The pick like part is for reaming (removing burrs from the stem).. i have a valve installer which looks very similar but has a much longer handle.. that small one probably works fine but since it is for cleaning the threads it might be easier to damage the threads if you are not careful as thread cleaners often have an aggressive cut in the threads.. also a few drops of soapy water or bead lube if you have it around the valve core hole will make installation very easy.
I personally do not like to use any water based lubricants on tire valves or on tore beads when installing valves or tires . It does not take much H20 inside the rim to start small rust areas. In the last 15 years I use WD40. It works very well. And no, it will not cause the tire bead to slip or move under acceleration or braking actions.