Is this demonstrably better that just... the devices already in your bag? My backpack would be a primary use case... and in it are my AirPods, iPad, and MacBook Air. I think any of these can use Find My already?
- Throw one in your checked bag when traveling
- Mount one in a relatively concealed location on your bike
- Keychain (depending on if you're prone to misplacing your keys)
Personally I don’t always have an Apple device in my backpack, and when traveling you can’t put devices in checked luggage, so I use them for those use cases at least.