Does it makes sense to implement an event dispatching system that allows event bubbling for non GUI related objects?

Question

Following up on this question of mine, where I wanted to know the general principles of implementing an event dispatching system that allows for events to bubble (and capturing I've come to learn); does such an implementation make any sense for non-GUI related objects?

I'm asking, because I want to try and build a general purpose event dispatching framework in PHP (be it just for practice or for real use), but can't figure out whether event bubbling (or capturing) is in anyway useful in such an environment (not talking about PHP-GTK or similar environments here).