> I don't think I ever used the FM feature on my phone
One killer feature for phone-sized portable FM radios is live sports!
Some sports that have TV broadcasts but no radio broadcast will pipe the broadcast audio over an FM channel within the stadium.
Of course for sports that have a radio broadcast, you can tune directly to it.
Depending on the sport, it's really nice to get player background info, or some sports have mics on players that get piped through the radio in your ear.
I suppose Auracast could be used for that, which is a broadcast audio feature of Bluetooth Low Energy [1].
My Bluetooth pods have it. I'm not sure how well it's supported, I don't think I've ever entered a place that uses it (or I didn't notice), so I could never try it.
[1] https://en.wikipedia.org/wiki/Auracast?oldid=1346244865