You bring up good points about it being potentially useful for facilitating the movement of money across borders (and potentially doing so more anonymously now) within the PayPal ecosystem with fewer fees, but it’s an unnecessary step for pretty much anything else within PayPal as far as I’m concerned. It’s also definitely a bad place to park money long term unless you like inflation eating away at your buying power.

I’m not sure what you mean about high fees with Bitcoin, though, are you talking about exchange fees from fiat to Bitcoin and vice versa? I rarely pay any fees simply moving Bitcoin around.