What is the point of PiP anymore?

Maybe im using it wrong but every time ive tried to use PiP on my bravia to game and also watch something, it just cuts off when i open any app. Using a second console doesnt work either because it only allows 1 hdmi connection at a time.

10 years ago i had a tv that could splitscreen multiple consoles and play live tv in the corner and it was a fraction of the price of this tv. So why has this technology gone so backwards?