How is the «shortcut_buttons_container» event triggered and handled?

It is triggered in the 2 places:

1. Magento\Catalog\Block\ShortcutButtons::_beforeToHtml()

2. Magento\Checkout\Block\QuoteShortcutButtons::_beforeToHtml()

The event is used for adding some extra buttons below the «Proceed to Checkout» / «Go to Checkout» button.
See details in the article: How is the «Check out with PayPal» button implemented?