Why do you need a lock screen on your app when your phone already has a lock screen. Now you have to unlock things 2 times. I have some other apps that require you to unlock it every time. The electrum app is one. It's so annoying. I have to put in my password every time I open the app and the settings don't seem to disble it. Why do app developers always baby us.
The same reason banks have vaults even though the front doors lock. The idea is to use different credentials for added security. Just slapping the same credential into all of them indeed makes it pointless, which is what I assume you're doing if you don't see any benefit.
Even if it doesn't let you use a different credential, this is still beneficial if someone snatches your phone while it's unlocked. They would at least not be able to get into critical apps. I believe that was something thieves figured out a while back.