Personally, I use it for a chronological feed of my subscriptions. It takes less time to find something worth watching, and it is easier to move on to do something else if there isn't anything worth watching.

Bookmarking or downloading interesting videos is also handy, since they aren't mixed in with my general bookmarks (in a web browser).

"What other benefits does newpipe offer?"

The Javascript source code for Google's YouTube player and the YouTube website is obfuscated or minified

The Java or Kotlin source code for Newpipe is not

If one does not like something about Newpipe, one can change or remove it

If one does not like something about the YouTube website and/or Google's data collection, surveillance and/or advertising services practices, one can uselessly complain on HN

It can run in the background. I use it to listen to videos before I fall asleep. Ads would mess up this hard and keeping the screen on would be unnecessary use of energy and OLED.

Newpipe is more pleasant than YouTube on FF Android with uBlock in my opinion. I often search find a video on YouTube, copy the share link into Newpipe and watch there.