My reasoning for using this in place of a displacement is:
1) I can export the resulting mesh and use it as a model, it renders without all the calculations this way.
2) I can see it without rendering it. (unless there's a setting to show displacements in EI, although that would still be less responsive than a model that's generated once).
I realize part of the real power of this plugin is the animation capability. But the ability to use a map to generate models (from terrain to intricate logos based on a gradient map) quickly is the main reason I miss image2mesh, I applaud this effort. :)