In the decades around the Code driven transition from 60 Amp minimum service size to 100 Amp, the split bus panel was a way to side step the quantum jump in cost of a single 100 Amp fuse pull out or circuit breaker as the single service disconnect.
The single panel enclosure had two separate bus systems in it. The service entrance conductors landed on lugs directly connected to the first bus system. This first bus system usually came with one service disconnect installed, commonly a 60 Amp, that disconnected the feeder to the second bus system. The second bus system was designed to hold the bulk of the branch circuits installed in the occupancy.
As noted, the first bus system could have up to six service disconnects (assuming there weren't others in the grouping just outside the panel), so this is where the larger loads, say the central AC, electric range, electric hot water heater, etc., were installed.
The service entrance conductors were sized for the load calculation at the time of installation, plus any "room to grow" the designer deigned to add.