I, too, had the same thoughts as I installed and began playing with AR.
I agree with Deanishe...I view AR as a magic keypad. Here are some of the functions I'm using (and loving) on a regular basis:
As a side note, I use multiple (7) "desktops" so I have MANY programs up and running all the time - each on their own desktop space.
Controlling iTunes (somebody walks into my office, I can push pause or mute). I know this is on my keyboard, but it seems easier to find/quicker to press on AR.
Jumping to certain websites (I have a few sites I visit multiple times per day. No matter which desktop I am currently using, I can jump right to the website with a quick and simple touch.
Launching apps/files (In my workflow, my open apps take up pretty much all of my screen real estate, so I rarely look at my desktop. AR lets me quickly launch apps. I know I can do it from Alfred on the keyboard - and I still do sometimes - but sometimes it feels quicker to use AR...especially when I messing around with my phone or something)
Putting my Mac to sleep (When I leave my desk, I like to put my Mac to sleep...but I usually forget until I'm already on the move. AR makes it simple)
Opening Alfred Preferences (Since I am still in the "play" mode with AR, I am opening preferences quite often...much easier to do in AR then using my mouse and/or keyboard.
I'll be the first to admit that I've never become a diehard keyboard power user....I think maybe that is part of the reason why I am enjoying AR so much.