Rails 5 - db:environment:set

I am in the process of upgrading an app to Rails 5. One thing that I stumbled on while recreating my test database was the db:environment:set command.

From what I can see, this makes a table named internal_metadata and stores an environment value.

Is running this command on all existing databases required? I cannot find any further information about this command in the upgrade guide or the ActiveRecord changelog notes.

Looks like this is for preventing accidental destruction of the production DB: