The `initramfs` OpenWRT/LEDE kernel builds are including the rootfs image into `initramfs`, attaching it to the kernel so it will put the filesystem in a ramdisk during bootup and utilize it as `/`. You don't need such builds if the regular flash-based storage works for you, as it won't allow any persistent configuration by default. Such a configuration is useful during initial OpenWRT/LEDE porting efforts when you don't have the flash driver configured to use the flash chip on the device.