I should have provided the context. I am using Blockstream Jade. As a part of the setting up the Jade wallet, it gives me an option to "draw" the seedQR, which is used to login to this stateless wallet (which forgets the private key when power turned off). What I don't understand is, why would anybody want to create this seedQR, which is like a card with the 12 words written on it. Sure, you can write down the words and put it away somewhere safe, but you shouldn't be using the card everytime you log in to the wallet.
So like you said, the SeedQR serves as a backup for that stateless hardware wallets - like Jade. It functions sort of like a seed phrase would, but it's custom-tailored in a way that specifically complements these stateless setups and their distinctive security features.
And that right there is the central advantage: because those wallets never save your seed or private keys locally, even someone snatching the physical device shouldn't pose a risk per se. Not even theoretically!
But then again that SeedQR still represents sensitive data in its own right. So in that sense, commonsense precautions apply. You'll wanna handle that QR code document with the same care and discretion you would any other confidential info. Keep it stored away safe and private just like you would your seed phrase.