It is wonderful to use instead of an oven since it doesn't heat up the whole room and you can pressure cook dry beans without soaking to fully done in about 20 - 30 minutes.
Energy efficiency is a big point. Between my Instant Pot and Air Fryer I have few opportunities to turn on the oven. These devices heat up faster, cook faster, and provide more consistent results. This is especially true now that I'm an empty nester and no longer cooking for a large family. It also makes it easy to resist the temptation to rely on processed foods.