These passes suit those who prefer some flexibility in arrangements, hence the higher fare class and price. The fares are usually mileage earning as well.
Alternative approach is to book the sectors you want, but of course the later you leave the more expensive the fare (as a generalisation), and you may not even be able to change the routing. This is pretty much true for OW/*A as well as just using LCC. I've brought, and discarded LCC sectors on the basis that I can afford to throw away a $35-$50 fare caught during a sale if plans change....