We bought it mostly because we wanted an EV for power backup for the house. We get ice storms in the winter and it can knock out power for days, and we need to be able to keep almost 1,000 gallons of aquariums running during them. The F150 extended range has that in spades and was cheaper than the equivalent power wall system.
It's basically a whole house backup generator that we can happen to drive around.
It's as capable, if not more so, than your standard F150 at truck duties in everything except towing. And it's a bit of a mixed bag there, it can tow way more than a standard f150, but it cuts the range to 1/3 so you have to charge pretty often. Still, 100 miles towing 10,000 pounds is nothing to sneeze at.
As for the generator aspect, with its 135 kWh battery pack, I can power the aquariums for weeks and weeks.