Tomahawks are the new "it" item. People that like them generally fall into into two camps: the bushcraft crowd and the tactical crowd. Some people into bushcraft prefer a tomahawk to an axe for hiking because they are usually lighter and can do a satisfactory job of cutting wood even though it's not as good as an axe. There are many YouTube videos about people debating whether an axe (hatchet), large knife, or tomahawk is best for processing wood when you consider the weight to benefit ratio. As for the tactical crowd, tomahawks are apparently popular with the various militaries overseas for light breaching for things like car doors, windows, and house door locks (like a small fire axe). So, I suppose in the case of some sort of emergency like an earthquake or if someone were trapped in a car these might be useful. I've, of course, never been overseas, so I'm just going by what people are saying about that, but as I mentioned earlier, the British press has denounced the use of these "battle axes" used by their troops in an online news article.
And .... yes ... they are thrown in competitions.