I'm really baffled that people say Street View is useful. It's a clunky piece of crap. It's like Google made a FPS where the framerate is under 1 and any time you move you end up with major screen tearing issues. On top of that, you move exclusively by clicking and dragging.
In contrast, Apple's thing is actually useful for previewing a route. I get a bird's eye view of my path through the city (which, lets face it, is vastly more useful than a freaking street level view. You may as well put your phone down, because you can get the same information in a more natural way by just looking at the real world around you.) And if you want to shift your view, it's easy and natural to do so, and there's no screen tearing because it smoothly goes from position to position.
Anyways, focusing on this new feature from Apple - this sounds like it might be useful if you're stuck in an area you're not familiar with and looking for stuff to do. Frequently when I face that situation I go to the town's website and see if they list any attractions... normally the website is a mess and I'm better off just wandering the town at random looking for stuff to do (which is pretty hit or miss). So this new feature sounds like it might be a free and neat replacement for a tour guide or something. Maybe.