So what exactly can you do with those bitcoins except sell them back to PayPal at some point? You can't move them, right?
If you could send these PP Bitcoins to other users, it would have made this whole thing much better, because the next day we would have people exchanging PP Bitcoin <-> real Bitcoin, which overall means more liquidity to the Bitcoin ecosystem. At the current state PayPal just acts as a broker, where you can get exposure to crypto investment and nothing more.