>The error rate is stupidly high (somewhere between 10 and 20%)

The Insertion/deletion error rate is 20-30%.

The point mutation error rate is something 0.1-1% (higher than HiSeq but not crazy high).

This means with a semi-decent reference genome you should be able to do re-sequencing fairly accurately. It also means, that in conjunction with HiSeq reads you can do cheap genome assembly, using the HiSeq reads for coverage, and the minion reads for scaffolding.