Reducing the size by ~95% in exchange for a 0.001% error rate seems like a pretty nice tradeoff to be able to make for some uses. The nature of the data means

Reducing the size by ~95% in exchange for a 0.001% error rate seems like a pretty nice tradeoff to be able to make for some uses. The nature of the data means it can never really be "perfect" anyway (there are certainly some password breaches that exist but aren't included in the list), so massively reducing the resources required in exchange for a bit of artificial error seems pretty reasonable to me.