Help me understand the pros and cons of setting up a Coinbase wallet?

I have cold storage for anything I want to store off the exchange(s). In general, if not natively supported by my wallets, I simply do not buy that coin. There are exceptions, but value is not significant, and I simply do not have any of the issues cited by others on Coinbase.

What will Coinbase wallet let me do that I cannot otherwise do with the exchange itself and/or my offline wallets. Is it simply redundant and unnecessary? What am I missing out on?

And, aside from the typical "don't give out your pin, seeds, fall for scams, etc.", what are the downsides?

Any insights/recommendations appreciated.