Another upside is the easy permission management.
You can revoke network access from your password manager to reduce attack surface; you can revoke camera access from your chat app to prevent accidentaly enabling it; You can restrict an app’s file system access to prevent unwanted changes; etc.
It’s not yet fit to protect from malicious apps, but it still finds some use.
I was working with Argon2 hashes, so it was the first thing to come to mind.