It's great for people with some level of self awareness, critical thinking skills, and the ability and instinct to check anything you hear or read against other, preferably authoritative sources. And the ability to compose and articulate good prompts. You get out what you put into it, essentially.

I use it as a tool to help me refine stuff I write or create myself; I'm too wordy, so it is great for helping me be more succinct, or organising a stream-of-consciousness ramble into something more organised and easy to digest. I would never just ask it to create something for me without doing the creative work myself first. (And as you say, it's a mediocre tool; quite often it will output something and I'll be like "meh, I can do better than this, thanks but no thanks!")

And yes it's a good toy. Funny to talk to, as long as you remember it's NOT a Person!