content: You can play some very simple games (but the PET wasn't very good for that), but no, there's no functional point. It's only to have a cool looking retro system sitting around. If you advance a few years you can have a Commodore 64 do some interesting things, like act as a simple Twitter client or play some games, and there is still value in teaching someone BASIC (it'd be a good toy for a technically inclined kid).