Hriston
Dungeon Master of Middle-earth (He/him)
The only use for versatile I could figure out was for spellcasters, until they ruled that two handed weapons don't interfere with somatic/material components.
The use for versatile, as far as I can tell, is to clean up the weapons table and keep it down to one page. A wider variety of weapons can be represented with fewer entries by having the same weapon cover both shorter spears for throwing and longer spears for melee, or both walking-stick and quarterstaff. The longsword covers both true longswords that are smaller than a claymore or a zweihander, and the even smaller hand-and-a-half swords that were more truly versatile. At least, that’s the way I’ve come to see it.