Better than nothing? I agree, it should be higher, but it can't be higher than whatever is spec'd for the least amount of pressure the engine will make, at end of service life. Which may well be just a few psi? at idle, no load, that may be enough.
I'm still surprised that Toyota-Honda-Subaru did not add some way to check oil (other than a dipstick, which requires the nut behind the wheel to do something). Other makes have it. And these brands have taken hard knocks in recent years over excessive consumption. Guessing they have a reason--and I probably would not agree with it, whatever it was.