Hypothesis: Cholesterol in bile helps absorb essential fats by binding them in structures remarkably similar to what exists in inner mitochondrial membranes. Cholesterol fits into the kinks in the all cis-double bonds of omega 3 and omega 6 essential fats and helps their absorption, not as single molecules but as complex structures.
If vitamin E, vitamin K, vitamin A, carotenes, vitamin D, CoQ10 and many other useful fat soluble substances also bind these complex structures, then the body can absorb all of them ALL AT ONCE, and cholesterol is helping this process.
Corollary: Dietary cholesterol is a good thing.
Corollary: Biliary cholesterol is a good thing. Biliary cholesterol is almost entirely for recirculation. It is not predominantly a waste product, as doctors see it.