I'm just testing it out, but pretty much what you mentioned seems to be the only benefit. Having a local backup of your notes, a local backup of following lists, private drafts, relay lists.

Considering some applications, still break following lists and relay lists and whatnot, I'm going to play around with it for a little bit and see if I can break then restore some lists.

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I just saw that the latest update added the ability to import and export relay lists. That's pretty nice to have, actually.

Makes it similar to metadata.nostr.com, but without the 3rd party.