Lightning privacy is a mixed bag currently, depending on what you use. If you're using Wallet of Satoshi or Blink, this has the same custody risks but infinitely better privacy. If you're using Phoenix or some other form of self custody, this is a step down in a security in exchange for a step up in privacy.

In short... the tool is useful for those who wish to make that security/privacy tradeoff in a set amount of time.