It is more than just a hole.
So, what appeared to be a meaningless design quirk actually had layers, much like an onion or a thoroughly good Pixar movie. The plastic stool hole: A small detail with a big impact.
It counteracts suction, aids drainage, is used in manufacturing, and, in a potent and smelly manner, makes one bowl stool lighter and less expensive. The next time you sit down on one of these, take a moment to admire the hole that silently holds it together.