This is the core of property law and it informs all subsets. For example, consider the Fee Simple Absolute and the Leasehold. The Fee Simple Absolute is a complete transfer of the bundle of sticks from one owner to another owner. The Leasehold on the other hand is a limited transfer of the right to possess and of the right to use property. In the metaphor, the leasehold is a transfer of only a couple of sticks.
This can go even further. For example, a person who sells real property could retain the mineral rights, sell water rights to a neighbor, lease a field to a nearby rancher, and then sell the house to another person. This can make property and understanding who owns what part of the property a challenging ask.
These general rules govern more than real property. Non-exclusive licenses can be given to allow multiple people to use something protected under a patent, copyright, trademark, or other intellectual property law. Frankly, personal property is a little different, in that it is harder to sell too many different rights to a chair to too many people.
This is why the bundle of sticks is important, it allows for various ways to understand how to convey and use property. These various ways of understanding property permit granularity and identification of relevant rights for the particular type of law.
Regardless, the idea that some right to use property while retaining the other rights is important. It allows for a number of the structures in the various disciplines of property law. As such, keep in mind the bundle of sticks when you are looking to own any form of property.