O2 can be toxic at much shallower depths. It's not quite as simple as <1.4 PPO2 is safe and above >1.4 may not be... a lot of other factors come into it like exposure and exertion, and the bottom line is that, like DCS, we don't really understand what the 'rules' are
Anyway... otherwise you're spot on: EAN is for extending bottom time, is of limited benefit if your gas consumption is high, & is not for diving deeper
One other reason not mentioned here is that if you are prone to the symptoms of non-clinical DCS (Extreme fatigue / tiredness after diving), nitrox tends to alleviate the symptoms.