It made SENSE: each packet protected exactly ONE magazine-load of ammunition until it was required.
Inside, the individual cartridges were separated by a long strip of the same paper, wound between the rounds to prevent as muxch close contact as possible, especially along the length of the case tapers.
FWIW, many nations did the same thing up until recent years. I have a full pack of 10 rounds of 10.35mm Rim Fire, done up in the same manner for the Swiss Vetterli rifles which were manufactured before the first Schmitts were built under the 1889 specification. If you have a spare hundred bucks or so, you can sometimes find Martini-Henry ammunition also done up in string-tied paper packs of 10...... just like this one, only bigger.