You have read wrong mate. There are many other benefits but whether or not they are useful depends on the individual and their circumstances.
If you looking at the cost alone then sure it is expensive but it comes with the convenience of no border runs for at least 5 years if you don’t want to leave. If you do want to leave you can leave and come back anytime as it is multi entry. Can legally open bank account, get post paid accounts on your mobile and internet etc rather than prepaid. Assistance with Thai drivers license.
Free limo to and from airport. They do your 90 day reporting for you. Large discounts at major stores and duty free which is good for big purchases.
This is not an exhaustive list.