Is there an actual use for the "Sound Waves HUD" chip?

I bought all of the HUD chips at the beginning of my first playthrough and immediately equipped them. Most give useful HUD features like an EXP bar or health meter, but I've been unable to figure out what the Sound Wave HUD chip does for me.

It seems to just display a small sound analyzer that analyzes the BGM. I've had it equipped for over 20 hours of playtime and haven't noticed it do anything special other than this. Is this really all it does? It seems absolutely pointless to have equipped if this is the case.

Solution 1:

Aside from analyzing the BGM and looking cool, the HUD Sound Waves chip serves one other purpose. According to posts like the one in this thread, it helps you find a specific Pod in the desert:

There's an item in the desert (pod C) that emits a high-pitched sound when you're close to it so it's easier to find. The sound display detects this noise, giving a hint to people who can't hear it (or hear poorly in general, or people like me who thought my speakers were dying instead of thinking it was an actual game sound).

This is backed up in this thread, as well:

I believe it's meant to help those who have a handicap with their hearing.

There is an thing (a pod) in the desert that can be found through a sound it makes. Not everyone can hear it.

If you've already found this Pod or are confident in your hearing abilities, there appears to be no other purpose to this chip other than being a BGM analyzer.