-
it's not an actual compass as such (if that's what you mean) - just an internal rotating bezel - you find north (as you can with any three hand watch and the sun) and then use the bezel to set a bearing. Is it a gimmick? I would say no more than a tachymeter or dive bezel for the vast majority of folk (with apologies to those who regularly use a chronograph to calculate average speed over a flat mile course...).
I mean, you can use it as a compass if you learn how. It can also be used as a timing bezel, just put the N over the minute hand and time from that.