I disagree that it is garbage. It might make the game somewhat harder later on but for now I am playing blind on Hard mode with both LW characters and it is a breeze. I am level 4 with 5-6 unspent Skill Points on each and I can take on a group level 4-5s no problem.
The bonus appears to come close to effectively making one character as strong as two non-LW characters without having to tediously control both. With two Skill Points per level and an 80% HP buff you basically get as many Skill Points and HPs as four characters. Summoned pets can provide additional targets in combat.
