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What advantage does Pairing using Legacy Pairing (BLE 4.0,4.1 devices) give me over a simple connection between 2 devices?

BLE 4.2 uses something called LESC (LE Secure Connection) for significantly enhancing the link encryption between 2 devices (using public private key pair model). But prior to that the way devices would pair with each other, what advantage would that give me over a normal connection as the data exchanged between the 2 paired devices (BLE 4.0,4.1) is easily sniffable and if the pairing method is 'Just Works' then it's even highly prone to MITM attacks. So, what good is pairing in devices using BLE v.4.0 or 4.1 ?

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