It means you get to stage your cancer and then decide if it is worth treating or not. Your chances of dying from prostate cancer, once diagnosed, are not random. Staging it can tell you the urgency of treating, as prostate cancers are not all the same. Many men are diagnosed and then told to do active surveillance or to totally forget about it. Others are told to treat it if they plan to live more than 10 more years. But you can't know what category you fall into without the biopsy. So if you are old enough that 10 years is long enough, don't bother with testing at all. But maybe you are 50 and would like to hang around to try and meet your grandchildren. If you have aggressive prostate cancer, you might want to treat it.
Nobody should be recommending that every guy get screened. The USPSTF recommends that men 55-69 discuss screening with their doctor. They do not recommend screening men 70 or older, for all the reasons discussed in this thread.