The discussion highlights that \frac{5}{15} is an example of mathematical typesetting in LaTeX, which is primarily known for its capabilities in formatting documents, presentations, and posters. LaTeX is not limited to mathematics; it is widely used for various types of documents, allowing users to reference equations, figures, and citations easily. The platform's plain text format enables version control, ensuring users can manage document versions effectively. LaTeX abstracts formatting from writing, allowing a focus on content rather than layout. Resources like the Comprehensive TeX Archive Network (CTAN) and LaTeX-Community.org provide extensive support and packages for users.