The advantage is that you don't have to name things. "v" is a bad name in a larger context, and it quikly becomes unwieldy if you use a full name.

    let transformedData = transformFoo(data);
    transformedData = transformBar(transformedData);
    transformedData = transformBaz(transformedData);

 vs.

    const transformedData = data
      |> transformFoo
      |> transformBar
      |> transformBaz

If you want have const's the first becomes even more unwieldy, and in general I'd recommend using const by default.

Just like lambda syntax makes it much easier and readable to write small functions, the pipe operator make it much easier and readable to write chains.