the benefit is the lower power. and it just works out of the box. They claim < 5uA active operational current.
It would be interesting to compare it to a 25 cent micro as AcHmed99 says... although which one are you talking about? the lowest price micro I know of is the PIC10F200 and it's 0.34 on a reel of 3000. Maybe alibaba has it cheaper, but is it real?
They also claim .005%/C timing stability, so that would be also useful to compare to a low cost micro over temperature changes.
The 10F200 is about 0.1% stable over temperature.
Furthermore, the 10F200 uses about 300uA at 3.3V (175uA @2V) and 4Mhz. So you would have to do some slick programming to get it to sleep, and wakeup to change an output pin state, then sleep again, etc.. During the sleep, it's only drawing about 0.1uA,
if you disable all peripherals, but I think you would still need the timer or the WDT, which draws about 2-8uA over temperature. The timer needs the clock, so its not really sleeping, then it's back to 300uA (or 175uA). But if you can use the WDT then it's only using an average of 3uA. If I read the datasheet right, the smallest WDT timeout will be 15ms. (you can use the post-scaler to make it larger, but not smaller).So now you're limited to 15ms on and 15ms off, 50% duty cycle and that's 30ms or 33Hz ! not very good.. so I don't think you can use the WDT, in fact as a 555 timer here. cross that off the list.
You could try to get fancy with the comparator during sleep, and use an RC ramp outside the processor chip, just like the 555 does.
So you can sleep with comparator interrupts enabled, and wake up, run a few instructions at full power, flip an I/O port and go back to sleep.
Perhaps that
might use less than 5uA on average, I don't know. That's what I mean by it's worth a study. You might be successful, however, the programming effort is much larger, and the complexity might introduce a subtle timing bug, or worse total failure, that breaks your system.
as w2aew says: "There's a lot of value/merit for building circuits that don't have to be programmed to work"
So I think there is a market for this more expensive 555, if you need a timer running continuously on a battery device, that perhaps uses up less power than most micros alternating between sleep/wakeup mode, and you just want it to work out of the box. $2.00 is not so expensive anymore if that fits your needs.
If you just need a timer, then perhaps the F200 is ok, but if you need continuous running while perhaps the rest of your system is sleeping, and you need low power, or stability over temperature, then perhaps the CS555 is going to work in that niche.
I would love to evaluate what I just wrote
maybe they would like to send me samples