You can create things like a simple book, mug, bookcase. These are what we call simple entities, They are made up of just one model with no animations and are not rigged together in the Animator.
This is the main use for the modeler, to create single models that can be exported to the marketplace to be used in the Game Maker as is, or to add them to a larger model in the Animator. More on that in the Animator topics.