>>63982278
It's a training ship, used to train officer cadets. The Rationale behind it is that a sailing vesser requires more teamwork to operate, and allow you to get better seafaring skill. It's probably only partially true, but it's a tradition at this point.

Still, that ship has some pretty impressive mileage, as it regularly does world cruises. This January they even had her cross the Red Sea while the Houtis were still throwing missiles at everyhting that moved...

Also, yes, it is used for shows in a way. It's pretty much the mascotte of the Italian navy, and whenever there is some celebrations they try to have her there.