We motivated the original definition of $A\rfloor B$ in (3.6) in terms of geometrical subspaces as “A taken out of B”. This is clearly asymmetrical in A and B, and we could also have used the same geometrical intuition to define an operation $ B \lfloor A$, interpreted as “take B and remove A from it.” The two are so closely related that we really only need one to set up our algebra, but occasionally formulas get simpler when we switch over to this other contraction. Let us briefly study their relationship
PG-79 , Leo Dorst Geometric Algebra book
I don't quite get what is the difference is between "A taken out of B" and "take B and remove A from it".. in English isn't "a ball taken out of the bag " and "take a bag and then take the ball out" the same procedure..?
Definition of right contraction:
$$ B \star (A \wedge X) = (B \lfloor A) \star X$$
Left contraction is defined axiomatically in the book on page 74. Also wiki link.
Your analogy is not quite adequate because the ball is contained wholly within the bag, while A is not necessarily included within B. Apart from that, you are correct that $A ⌋ B$ is very similar to $B ⌊ A$ since they "differ only by a grade-dependent sign" (p. 78).
As for the reason why they bother to define two operations, I guess it's because of the non-commutativity of the contraction ($A ⌋ B ≠ B ⌋ A$),which makes it stand apart from the other products... or maybe the right contraction is really useful at times, and I just can't figure when...