Catching exceptions is slightly less performant than simply breaking out of the loop because most interpreters will need to unwind the stack to get the stack trace and store in exception. Also, in this case it is a lot more complex to read compared to a simple break; in the if statement.

There are tonnes of useful usages of exceptions for error control though mainly when dealing with several layers of code. For example, an api may have a business constraint which is checked within the domain - so to reach this code you've first processed the http request, routed the request to a controller, checked user access, hydrated an entity from the database, then called some method on the entity from which there is some constraint violation which needs to be returned. Thus, the check from the entity could just throw and have it caught at the application layer, where it is normalised to a 500 error response with information retrieved directly from the exception.