What this 8-bit bus driver does in the field
The 74AC11374DWR is an AC-series 8-bit bus driver — a logic buffer that takes an 8-bit-wide data bus and re-drives it cleanly onto another bus segment. The AC family gives it the speed to keep up with a fast system clock without adding much propagation delay.
For legacy builds or military/avionics where tin-lead is still the standard, that is not a problem.
Bulk packaging — what it changes on the line
That is fine for hand-assembly, prototyping, or repair depots where parts get picked one at a time.