Sure, it’s useful in the way that you can pick it back up where I left off, but if I no longer want to set up a new account, I can’t back out of the process to log into another account.
Scenario that happened:
I am logged into my Monzo account, suggest that my girlfriend makes an account because Monzo is super cool. So I log out of Monzo and she starts the account creation process on my phone. For whatever reason we realized that we couldn’t go through with the process; so abandon the idea and I try and get back into my account. However, we were stuck on the account creation process since there is no way of getting back to the log in screen without finishing the whole account creation process.
I don’t think this is intended functionality.