See my post #5 in this thread about the power reversing direction for half of each cycle, I think that's what you mean by bouncing back and forth.
But that's not the whole story, a load such as a motor must be supplied with some reactive power as well as real power. It "consumes" both kinds. Reactive power is also consumed by the inductive impedance of the power lines causing the voltage to drop at the far end of the line. In some cases we must provide capacitors near the ends of those lines to replace those lost VARs and keep the voltage up.
Industrial customers are charged penalties by utilities if their loads draw too much plus or minus reactive power. That is called low power factor. Regarding your question though, those loads "consume" reactive power.
Devices called synchronous condensers are like generators that make zero real power but they make a controllable amount of plus or minus VARs. They are used to help control voltage. We also use shunt reactors (inductance between line and ground) or shunt capacitors to add plus or minus VARs to help control voltage.
So, the Primary purpose of the grid is to supply real lower, but reactive power is a necessary secondary need. Management of reactive power is the primary means of controlling voltage magnitude on the grid.