I've experimented with waypoint flight a fair amount. One major advantage I've found is that rotation is much smoother than I've been able to achieve flying it myself. If I set the camera position to "consistent with flight record" then the bird smoothly turns from it's orientation at one waypoint to the orientation at the next waypoint. If you plan your orientations carefully, you can script the whole flight and get very nice results. DJI Go doesn't record camera angle as part of the recording, though, so that can be a challenge. I'm still not as smooth as I'd like at raising and lowering the camera, and it's easy to forget to adjust it as you're flying, or create jerky movements that spoil the flow of the recording.
I did a fly-around of my house with like 15 waypoints (big irregularly shaped house with an attached garage, deck with 2 story arbor on top, and lots of tall trees in the yard, so it was a pretty complex flightpath) and got a very nice video study of our house and yard.
I also did a flyover of our entire cul-de-sac top to bottom. I put the drone at the bottom of the street, drove my car about 1/3 of the way up, recorded waypoints until it was almost out of sight, left it hovering, drove past it to 2/3 of the way up my street, and recorded the remaining waypoints. I then flew a much simpler high altitude return flight with only 1 waypoint where I could see the waypoint position, then drove my car home, and flew the drone home and landed it. At each waypoint I thought about the orientation of the drone so it was facing the way I wanted.
I then "let her rip" with video recording and drove along to follow. It worked flawlessly.
I have done 2 versions of my street flyover. The first time I apparently failed to record one of the waypoints, so when I flew the mission, it flew a straight line instead of following the curve of my street. It came scary-close to a large tree in a neighbor's yard, and I was quite far away when I flew that mission so I didn't realize what was happening until the danger had passed. Had it hit a tree branch it might have destroyed my Phantom since it was probably 20 meters in the air at the time. (This was a really tall tree.)
I'm eager to try one of the third party flight control apps that offer more options for managing waypoints. DJI's app has some huge shortcomings. The worst offenders in my book relate to saving waypoint missions. You can't control when it actually saves a mission. It only saves the mission when you tell it to start flying it after recording it. If you don't do that, the mission is discarded. Also, you can't name your waypoint missions, ever. They get the date and time they were recorded. If you have more than a couple saved on a given day, good luck keeping track of which one is which. both of these things are stupid and inexcusable. They are UI flaws that make the feature really hard to use, and that would be quite easy to fix. (I am a professional iOS developer, so I know of what I speak.)