Fletching tables in Minecraft primarily serve as villager job blocks. Jobless villagers that have a fletching table placed down beside them will become fletchers, which can have very valuable trades. They can trade emeralds for sticks and give enchanted arrows as their level 5 trades. Currently, there is no other use other than using them for fuel (since they are wood based) and underneath a note block.
That's not to say that they will never have another use, though. In the 1.16 Nether update, the smithing table was given a use after only being a job block. It became the method for making diamond armor into Netherite, so fletching tables could have future uses.
Crafting a fletching table in Minecraft
Fletching tables are villager job blocks, so they can occur naturally in a village. However, that is pretty uncommon. Most of the villagers in villages will be farmers, librarians, armorers and clerics. All that is possible, it's just unlikely. That means players will need to craft one in order to get a fletcher villager.
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Players will need four wooden planks, which can be any combination of different types of wood, and two pieces of flint. Flint can be acquired by breaking gravel, which has a 10% chance of dropping flint. Put those six items into a crafting grid, with the four planks being below the flint, and it will create a fletching table.
That block can then be assigned to a villager and they will become a fletcher. While that's the only current use of the block, according to Minecraft Wiki, a future update will likely bring a use.
When right-clicked in spectator mode, the fletching table shows the crafting table UI for just a second. It's there and then gone in an instant, but it is there. This means that in the future, it is very likely to have some sort of use, even if it's just for crafting arrows.
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