Side benefits include:

- Adding more ports to often port-starved TVs or projectors.

- Providing alternative port-switching interface if you hate your TV’s UI and want something simpler.

- An organizational aid—you can put all your stuff somewhere away from the TV, and all that needs to reach it is a single HDMI cable. This can create interesting room layout options that are otherwise impractical.

All of these can also be accomplished by a simple HDMI port switch, but still, it’s handy.

Its just I wouldn't want the TV doing the switching because you are still managing two remotes for that and I dont want the wiring to the TV, I would want more speakers and some basic room eq, delay correction and subwoofer management. And I always end up with more devices. I also want Dolby Vision and Dolby Atmos.

My receiver does everything yours does and more, and the TV auto switches on and off but I am also been into this stuff for years.

Plus AV receivers can consolidate all the connections so there is only one run to the TV. This could be done with an HDMI switch if you can find one that integrates as well as a receiver, with similar number of inputs and isn't a large fraction of the cost.

Plus many (most?) very nice speakers need an external amplifier. Once you look at the cost of a bare bones amp, an A/V receiver with everything else they offer makes a ton of sense. Even for two channels.