The benefit of this is that If the top of the banana is acting particularly stubborn, the Pitman method prevents damage to the banana and/or requiring the use of exterior tools to open the banana successfully.
Consoquently, the Bottom of the banana can become equally, if not more, damaged. But I know at least two people, including myself, who choose to discard of the bottom bit, as it's got a slightly bitter bit at the very end.
Jay: "You clown, use the Pitman method!"
Birrell: "I'm simply astounded!"
Jay: "You're keen as!"