Those timer switches are commonly used for several different things. The one I recall is that hotel bathrooms had IR heat lamps in the ceiling and it was connected to one of these timers. Many uses for them. I have one I bought on the clearance shelf at Home Depot that I control an outlet on the workbench with, that the Makita battery chargers (two double gang ones) are plugged into. I prefer that stuff to be de=energized when the charging is done.
Yes, hopefully the heat element is not burned out, but given its location above the WH/MW selector I would not be surprised if that is what it is hooked to. May need to follow some wiring.
Charles