If you've used CSS transitions you'll have encountered the problem this solves. Okay, my duration is 400ms -- but why 400? Shouldn't it depend on how far it has to move?
As others have noted, exponential smoothing has a different problem, that it asymptotically approaches but never quite reaches its destination. The obvious fix is to stop animating when the step gets below some threshold, but that's inelegant.
When using a similar method for inertial scrolling, I've found it useful to add a (pseudo-)friction term. This offsets the exponential, and effectively works as a minimum speed. Here it is in Desmos: https://www.desmos.com/calculator/98ufbuzxhj