Gain of zero is quite rational and useful.
Yes, an "amplifier" which ONLY did zero would be a useless thing. But next time you turn your amp to "11", look at the other end of the knob. Don't it say zero? Could you use it when changing cords, so the pop and buzz didn't scare the dogs? Zero gain IS a useful position some times.
What if you put the pot in the middle? So that it is 125K to each side? Well, 135K on one side, but that's almost the same. Nobody knows this one? It is a plain UNITY gain amplifier. (Or a bit less due to the 10K and the non-infinite gain of one 12AX7.) An amp which only did unity may not be very exciting, but at least signal passes.
The third setting, wiper left, ISO got right. 250K/10K is 25. The gain can't be more than 25.
As Robert says, there's cancellation. If the signal completely cancelled, there would be no output to do the cancelling. So it does not quite cancel unless the gain is infinite. 12AX7 has gain of say 50, which is more than 25, but not a lot more than 25. The actual gain will be nearer 16. That's an obvious boost.
So at wiper right, center, left we have three gains:
0 === silent
0.9 == normal
16 == boosted
Just like that, it might be a useful gain-changer.
But as Robert says, there's a bunch of caps (and resistors!). We know that caps do one thing for low frequencies and another thing for high frequencies. A coupling cap cuts bass. A brite cap bleeds treble around a volume pot.
So I presume that R-C mess does different things for bass, middle, and treble.
And in each frequenncy band, you can dial from silence to normal to boosted.
Which is a nice flexible tone control.