It's marketing material to say 'hey you can discover these things on your network' - i.e. by subnet scanning. Then you can be like 'hey - there's a dumb switch someone plugged in' etc...
however, LS is awesome as a security and compliance tool - you just have to use your imagination.
integrate with splunk, make switch email alerts where new unscanned devices are on the switch, software compliance, true-up's, all sorts of things... monitor the hosts file for windows and send email alerts if they have been modified... all sorts of things.
check SCCM agent's - does it have it? (.exe check), is it checking in properly? (Registry key)?
there's a ton but I don't want to give away too many secrets...