I understand the limitations. The benefit is that it's a simple solution with no programming other than the digital interface to trigger the sounds.
Yes, there is always limitations and benefits to using dedicated hardware blocks, but it's the designers decision based on the factors he/she knows about. Less cost and future expandability may mean nothing to the original poster compared to getting it out tomorrow.
Anyway, the point is moot, since I can't find the actual chip. I remember it from my robot days.