You can also do things with pinhole that you can't with lenses. For instance, I have some negatives taken with the camera down on the ground, plants a few inches from the pinhole are about as (un)sharp as trees fifty feet away. There's no lens made (at least for "normal" perspective on 9x12 cm) that can approach that. Also, you can use very long exposures -- that sounds like a disadvantage, but there are things that you can say about a subject by making moving objects invisible, or cyclic or rotating objects show as streaks or circles. You can't stop the motion of a wave, but you can show the shore itself in spite of the surf, or you can record the overall impact and extent of the surf (as a sort of fog, growing in density as you near the average water surface) -- and its much easier to make images like this at f/300 than at f/32.
Finally, pinholes allow for curved and distorted, even anamorphic film shapes that can produce interesting or even startling effects from completely mundane scenes.