dd is very useful for backing up the boot sector of a hard drive or other storage device (dd if=/dev/sda of=boot_sector.bin bs=512 count=1 ) and then later rewriting it (dd if=boot_sector.bin of=/dev/sda). It is similarly useful for backing up the headers of encrypted volumes.
cat might be able to be twisted into doing that but I wouldn't trust it on the rewriting part. It's difficult to get cat to only read/write a certain number of bytes.