The Bic works just fine for me.

When wet, it lights after shaking off the water (second attempt). It doesn't mind cold or altitude. It can be replaced inexpensively (a buck or so) and easily (at any gas station) when it runs out. Its fuel doesn't escape over time like a Zippo (a 5 year old Bic lit on the first attempt, but my zippo was empty after 2 weeks). It doesn't require regular monitoring or refueling (when it gets close to empty, replace it). It doesn't require special preparation or procedures to light. Because it is small and inexpensive I am more likely to include one in all of my kits and in my pocket.

The Bic M-series lighter cover gets around the issue of triggering the gas while the Bic is in your pocket or your kit. It doesn't add much weight or size to the lighter. It protects the Bic from being damaged by sharp objects or being crushed. It provides a bit of wind protection. And I can buy 10 or more Bic covers with lighters included for the cost of a premium refillable butane lighter.

As a Scouter I enjoy learning about many different fire making methods. I've taught many to my Scouts, and using alternative fire starting methods is a lot of fun. We have also used torch lighters for the Coleman lanterns when we go car camping.

However, there is a much greater chance of success starting a fire with the Bic that I have in my pocket than with the flint and steel kit I left in the car, or the magnifying glass or soda can bottom that would have worked if it had been a sunny day, or the improvised bow drill without a flat dry piece of wood for the base.

You could dump the Bic and count on something larger or more exotic or more primitive. But these options may not be present or functional when you need them.

Or you could carry the Bic to be assured of a flame, and have the other options as a backup.