I generally think of it the other way around. Simulating dynamics (ie. evolving a system in time) is used in Quantum Phase Estimation (QPE). That is, the $U$ appearing in QPE is the time-evolution operator $U=e^{-iHt}$, where $H$ is the Hamiltonian of the system. Part of the QPE protocol requires implementing $U^k$ for increasing powers $k$. This reduces to simply evolving the system for longer and longer times $t$.
Here's a good reference: https://arxiv.org/abs/quant-ph/0604193
(Published version: https://www.science.org/doi/10.1126/science.1113479)
Now, why bother doing QPE for a physical system?
The phases $\lambda$ given by QPE are the eigenvalues of the time evolution operator $U$. These are relatively easily mapped back onto the eigenenergies of the Hamiltonian $H$. These eigenenergies are usually the thing chemists are trying to find, as they alone are sufficient to deduce a host of chemical properties like ionization potential and equilibrium constants.
Better yet, QPE reads out an eigenphase classically, but it also prepares the corresponding eigen-state. This makes it a useful starting point for calculating other useful observables besides energy, or perhaps simply preparing a reference state to obtain the ground-state energy for a more precise Hamiltonian. It seems like this is what the first article linked in the question is referring to.
Moreover, once you have all the eigenstates and eigenenergies in a region of interest, you have enough to very easily understand how a (closed) system develops in time - you simply decompose your initial state into a sum of the eigenstates and develop each eigenstate according to the phase you found in QPE. The final state is an interferometric sum of all components.
Do note that QPE is not the only algorithm available for doing all these things, though it is the most iconic. To name just a few, the Variational Quantum Eigensolver (VQE) is also quite popular, Quantum Imaginary Time Evolution (QITE) strikes me as promising (but I'm no expert), and the first article linked in the question itself presents two more.
I'm happy to provide more detail if requested.