While your pistol is weak compared to most attacks, it builds up the Wrath meter really quickly when you fire it on foes, allowing you to summon your ghouls or perform powerful special attacks more regularly.
On top of never having to remember a password again, Pico users would be theoretically immune from phishing attacks, choosing weak passwords, or even having their password stolen by an over-the-shoulder snoop.
The lawsuit is complicated and a little weak by its very nature since it attacks Goldman for not making the proper representations rather than for underlying behavior that violated the law.