I didn’t realize that was in there. I’m guessing Ben added it at some point.
Just of curiosity, why (in the context of your data) do you compute the above?
This operation aims just to create a covariance matrix with estimated correlations between factors but diagonal fixed to one. This the Φ of classical factor analysis formulation. But I just realized that using direcly a constrained correlation matrix should work, without an unnecessary operation!