It does make sense - while more Americans hold passports now than at any time in the past (+/- 33%, according to the Bureau of Consular Affairs in January), the majority of Americans (+/- 60%) still do not have passports. This program offers them a way to take advantage of expedited security screening without Global Entry. If one holds a US passport then for certain it is better to sign up via Global Entry.
I don't foresee the average domestic flyer laying out the money for this, especially families where there are multiple travelers. Just not worth it for the few annual trips they make. It might capture a wider net of the business traveler who don't hold passports or don't want to bother with Global Entry.
although the ratio of people holding passports are lower than most countries, I suspect that the % is much higher for those (business travelers) who would want the service (and not the ones who fly once or twice a yr). As for hassle or bother, if TSA is not doing a check of the passenger's then it lacks the whole purpose of why PreCheck exists! And to be honest, it was pretty easy to get PreCheck from DHS.