Though probably not as good for rice specifically as an actual high-end rice cooker, it greatly increased the range of foods I eat.
Makes it easy to make nice one pot meals overnight for multiple days, you can make really good broth soups from chickens etc quickly, or slowly if you prefer.
If you like to try tougher cuts of meat, this is also a good reason to get it. The fact it doesn't occupy one burner is also helpful.