Each metaphysical tower serves a duel purpose-- it is a pillar, the unbinding of which would in turn unbind Mundus, and allow it to return to the void; but it is also a ladder, to be used by the race who created it to transcend their physical existence. However, Snow-Throat is unique, in that it is designed to be unbound, so that Mundus can continue.
How is this possible, you might ask? The answer, simply, is Alduin.
Why was Alduin so small and weak in Skyrim, if his role was to devour the world? When you defeat Alduin in Sovngarde, his armor falls away and the truth is revealed-- Alduin the dovah is an egg, housing the unborn soul of Alduin the god. Not convinced?http://i.imgur.com/U3w0N.png The resemblance to a fetus is not, I think, coincidental. Alduin the dragon would nurture the god inside of it, by the worship and faith of the dragon cult and the outright consumption of the souls in Sovngarde, until such time as the divine Alduin was born, and would be hatched from its physical body as a giant golden dragon, a rauaging firestorm that would eventually consume all reality. But not immediately.
Alduin, is still the dragon god of time, merely its Nordic interpretation. As such, his birth is really just a formality, and linear time is no impediment to his movements. Upon his birth, he travels back to the creation of the universe, where he plants himself in the belly of the Throat of the World, to wait for the time when the kalpa is ready to be ended. As such, even as you fight Alduin the dovah on the summit of the Throat of the World, Alduin the god is sleeping miles beneath your feet.
This makes Snow-Throat a very important shield to the preservation of reality. When mortals, through their personal quests for power, cause too much damage to Mundus and the Towers collapse one by one, it triggers a systemwide warning system and Alduin awakens. He performs his duty and ends the current kalpa, issuing in a new age with new gods, new races to populate Mundus, and shiny new towers to reinforce the new reality.
The prophesy of the Dragonborn refers to Snow-Throat being "sundered, kingless, bleeding." It was interpreted to be a metaphor for the division in the Nordic people during the civil war, but it is far more literal than that. Alduin's return will be heralded by Snow-Throat cracking apart like the shell of an egg, bleeding fire over the countryside as Alduin takes to the skies. That is the natural function of the tower. It also allows transcendence through a systemic duplicate of the Dreamsleeve. Just as mortal souls are recycled endlessly until they reach some higher stage of being, entire races are recycled through the kalpas until they can break free of convention, at which point, they can step outside the cycle of rebirth. This was the origin of the dreugh-- a remnant of a previous kalpa, a race who was able to leave reality behind, leaving mindless, bestial husks in their stead.
However, discerning readers may notice that toward the start of this, I referenced how this was its function under "normal circumstances." Each Elder Scrolls game has resulted in the deactivation of a tower, and Skyrim is no different. Alduin was thrown forward in time through the use of an Elder Scroll, which meant that in the fourth era, he was still an infant. This is why Dovahkiin was able to effortlessly defeat him. But when Alduin the dragon died, Alduin the god died with him. At that moment, he was erased from history, and when the Dovahkiin returned to Skyrim, seemingly victorious, it came at great cost; Snow-Throat is now hollow, its power as a pillar of reality stripped away. This kalpa shall be the last, for the world-eater no longer slumbers in its depths. Mundus will continue to be weakened as the pillars are knocked out one by one as the war between man and mer rages on, and eventually, it will dissolve altogether.