The element produces changing binary states that can be used as part of a stochastic calculation. Systems built around such elements need algorithms and interfaces that give those changing values a useful computational role.
A component's behavior does not establish the efficiency of a complete workload. Useful comparisons must consider the full system, the required precision and which parts of a task the hardware can actually perform.
ELI5
Imagine a small computing element that repeatedly takes one of two values rather than keeping one fixed value.
For example, a calculation designed to work with many changing zero-or-one outcomes can use their patterns, while other parts of the task may still need ordinary deterministic processing.
Is a probabilistic bit useful for every calculation?
No. Its usefulness depends on whether the algorithm and workload can use probabilistic behavior appropriately.
Does one efficient element prove a faster complete system?
No. End-to-end performance also depends on supporting hardware, communication, precision and the work the algorithm requires.

