What's the point of 7 Kf1(Krakow Variation) of the Italian game? The variation goes(I will do it through the scotch gambit)

[fen "rnbqkbnr/pppppppp/8/8/8/8/PPPPPPPP/RNBQKBNR b KQkq - 0 1"]
1.e4 e5 2.Nf3 Nc6 3.d4 exd4 4.Bc4 Bc5 5.c3 Nf6 6.cxd4 Bb4+ 7.Kf1 (7.Bd2)(7.Nc3)


I suppose the alternative is to play Bd2, but I believe that black manages to often hold a draw here because of theoretical repetition lines. White could of also played Nc3, though tricky, Black seems to be doing fine if they know the theory. Thus, it seems like Kf1 is played to avoid a draw. 
However, if avoiding a draw is desired, why not simply play e5 instead of cxd4?
Is there really anything in this Kf1 variation or is it harmless?
I guess it's a surprise weapon, no need to be excellent objectively. The position is around equal after Kf1 and black must deal with new situation, while white probably knows what to do next moves. Black must deal now with vulnerable bishop on b4 and two connected central pawns. He goes wrong, he can get into trouble. He goes right, the position will be normally playable for white. The point is not to allow the bishop b4 to be exchanged. This bishop can run to various tactics.