Use when recognizing an object's or person's occasional usefulness despite drawbacks. Sure, this cheap umbrella breaks easily but it has its uses in a sudden downpour.
Pro Tip 2/3
Not Always Positive
May imply something is not universally useful, having limited or specific effectiveness. This old truck guzzles gas, but it has its uses on the farm.
Pro Tip 3/3
Subtle Praise
Can be a polite way to acknowledge the occasional usefulness of something not usually appreciated. My son's video games have their uses; they really do help him learn strategy.