Pi's are good for teaching you things, so if you got one you would learn with it. A number of folks have started learning about Linux system administration with theirs after being somewhat 'light weight' in that department. Others are learning about new programming languages or environments, from node.js, to R, to Scratch, to python. Getting Docker on them has had people setting up server deploys. Running web servers have people creating small web sites with bootstrap and other technologies.
But if you really aren't interested in learning those sorts of things, well its not really very useful. Everything it does can be done 'better' in a production environment by a server, usually x86 based, designed to do what ever it is it is doing.
Bottom line is there are a lot of things an RPi can help you learn by giving you hands on experience. If you're not interested in learning those things, it probably isn't all that useful.
> Hosting my website (with CloudFlare in front)
> A gateway into my network (almost all ports are open to the RPi including SSH). I can ssh in and then every device on my network is configured to accept connections from it. Hitting my devices directly (over v6, for instance) would be rejected by firewalls and such.
> Personal Cloud: I use BitTorrent sync to move files around my computers. Sometimes my desktop / laptop aren't on at the same time. I solved this problem by putting BTSync on my RPi. It's online 24/7 so my files are always accessible.
> MySQL server (for development).
Ideas I have floating around:
> Possibly hosting my email
> Internal services like Squid caching.
> Server-Side Development. It's a tight environment (ram is limited, cpu is fairly slow) so it forces you to build lightweight programs. If it can run well on a RPi, it's probably fine on a VPS.
> Monitoring/graphing uptime/latency -- My router doesn't do this for me.
> Scheduling backups (possibly via rsync?)
Your RPi is basically a home server. Use it to control devices in your house and do automation.