People now throwing the words "useful"/"useless"? xD
Nothing is useful in this game let's be honest.
Mounts > having one through MSQ is useful. Having more is not.
Minions > not useful.
Gear > mostly not useful aside from BiS.
Titles > not useful.
Farming any sort of content > rewards mounts/minions/gears/titles/achievements > not useful.

It's a cute addition to the game, to add to the glam part of the game, which is very important. It doesn't need to be more "useful" than that.
I think they are very telling of what kind of player you are.
They just need to appear in more instanced content when they go out of Beta.