I use it for both, depending on what I’m doing. Honestly, I’d love two. One for drums and one for the master. Most of the time I have a cheaper stereo distortion (Torcido) on the drums and AH on the master.
AH on the master is a combo of a bit of subtle saturation/drive, a bit of EQ and a bit of envelope follower as pseudo-compression - i.e., using the env follower to lower the amount of drive when the louder sounds (like the kick) hit. In that way the quieter parts are made louder, and the effect is very much like a compressor. Gives it some nice movement.