IIRC W2K didn't have one. Defragmentation can use different strategies which may impact the time it takes and additional perf gains if the right files are next to each other. The builtin defrag tool doesn't give any option. So "snake oil" I'm not so sure.

Also, a watching a proper defragmenter run was an OCD soothing experience before we had stray kitten and powerwashing videos galore. I know I'm not alone with this experience.