At this point, I think Robinhood has to be a dead brokerage walking. I cannot fathom any new potential customers looking at brokerage options today and deciding that Robinhood best suits their needs. Their largest competitive advantage was the free trades, and one can find that at most of their competitors now. Existing customers are also leaving (and possibly suing). The future looks pretty grim for Robinhood.
Robinhood's interface is much better than other financial institutions by far, It's one of the most intuitive interface design unrelated to financial products which makes it very pleasing to use. Robinhood disrupt fintech from every standpoint and we should give them credit for that. It opened the doors and allowed younger generations to invest in the stock market where other players failed terribly to do that. Bad days are happening for them in a terrible timing but I believe they will bounce back, I sure hope they do.
I thought that the other benefit would be easy account setup for options trading? The brokers I'm aware of 'interview' you before giving you the ability to trade options.
I am able to trade options on Merrill Edge after filling out a form. I think perhaps Robinhood allows people to trade smaller contracts than usual? I can only trade options in batches of 100, which means putting a fair bit of money on the line for any given trade.