There is some real insight in being able to see who your competitors are and how you rank (average position) compared to them.
One of the main things I use this feature for are campaigns which measure their success by average position and brand campaigns. If you are only bidding on your brand terms, you can also see which companies are bidding on your brand term.
I have also seen agreements between companies where they do not bid on each others brand terms to not inflate bids. Do you know who is bidding on your companies brand term?