Leahy, Grassley Unveil New Cell Phone Unlocking Bill → What does unlocking a Sprint phone get me?

Besides being able to use a phone overseas what does unlocking a Sprint phone actually get me?
Sprint Phones only work on the Sprint CDMA network so does unlocking them really get me anything?
Also Sprint won't activate a phone that isn't in it's database (eg. one it sold in the first place) so having an unlocked (non Sprint) won't work in Sprint.
What am I missing?

Hate to burst your bubble but most new phones are global and multi band thus it's going to be more and more common you can use a phone from one provider to another regardless of the GSM vs. CDMA stuff.

This isn't 2001 anymore

That said, Sprint is a bit more of a pain on all this because Sprint phones actually have 2 locks on them.

For example the Galaxy S5 has one lock that restricts international sim cards and another that restricts domestic.

But yes, these newer phones can be used CDMA or GSM...

That's why unlocking matters. It might not for people wanting to switch to Sprint but it sure does for people wanting to leave.

I have a Verizon Note 3 that I paid full price for at the store to avoid losing my unlimited data. The LTE band for TMobile/AT&T was locked, but I rooted it and unlocked that LTE channel. The phone was always capable of it, it just wasn't enabled. I tested it with a TMobile SIM and I did get full LTE speed on TMo's network with my Verizon phone.