It definitely has advantages for certain scenarios, such as let's say, on your knees welding on the floor of a structure. Or on your back underneath something reaching up to weld something overhead. Or any place where dragging and/or operating a footpedal just isn't convenient.
Try putting your maching into 2T mode, and sets about 2-3 seconds of downslope, and dial in the peak amperage to about 30% or so hotter than you need (on average) to weld something. You can then manually cycle the switch in 2T mode to throttle the power output as needed. Holding it down at the beginning gets you the quick puddle (even on aluminum...) and then you can vary the "duty cycle" that you press the switch to regulate the power output, including tapering off the power approaching an edge in order to maintain a uniform weld bead, etc. I've found you can actually control heat pretty well like that! (Weld aluminum just fine like that, and so on.)
Generally speaking, for anything on the table, I use a footpedal. For welding needs away from the table, I often use the torch switch.
'13 Everlast 255EXT
'07 Everlast Super200P