People get used to this and start hitting up >20 times to get back to a command they ran a while back. Often they overshoot too and have to scroll back.
It's the weaker little brother to ctrl-r, only useful for commands ran 1,2 invokes ago.
ctrl-r is more functional I'd say
1) Start typing a command `ssh`
2) Use `up` arrow to go backward in your history
2) Use `down` arrow to go forward in your history