There's a lot of value to having something like this "built in" where the plumbing isn't something you worry about. You don't have to worry about the state of your users' file systems (User deleted 'My Documents', User doesn't have a $HOME folder, you don't have write permissions for %AppData%, etc...).
I think if someone went off and redesigned a global KV store for an OS they'd probably require authentication tokens for mutations, so your app would only be able to communicate with the subtrees of the store that it has permissions to (but also, kind of like a file system?)