The facts that paracord is soft and bulky are probably the key to its virtues, however limited you conclude they may be.

Soft and bulky works because it is easy to see and easy on the hands and whatever other part of your anatomy to which it comes in contact. So: lashed-on handles / covers; replacement seat bottoms; haul lines within its weight limits; highly visible lines where that is good; knot / braiding / weaving / macrame / knitting / net learning; apparel add-ons or replacements; strap / retainer replacement; etcetera.

However, because it is not incredibly strong, abrasion-resistant, water-shedding, UV-resistant, etcetera, paracord is probably best for temporary, improvised uses. Which happens to be why most carry some around!