It has uses, it's essentially 2 more button inputs, plus swipe controls. KZ is using it to control your owl.
The only thing is, will devs outside of first parties use it?
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Yes, watch dogs and ac4 have been confirmed to use it in some way, can't wait to see how.
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Assassins creed 4 uses it to access your map. Clicking it brings up the map and then you use it like a laptop track pad to navigate the map.