Cashout feature bad?

Every time that cashout button starts blinking during a poker tourney or even in blackjack, I get this weird mix of relief and regret. If you think about it mathematically, most of the time it feels like the offer is stacked against you, like an early exit tax. I get the utility if you’re really sweating a big loss or if some crazy outside factor comes up, but I notice the payout is usually less than what you’d get just toughing it out to the end, assuming you’ve made good decisions up to that point.

Some folks in my crypto casino groups swear by cashing out to lock in any green, others treat it like an unnecessary panic button. What I’m wondering is whether there are actually solid situations where using it makes more sense. Trying to take feelings out and just see if there are logical scenarios for it that don’t just cater to fear. Maybe specific game types or situations? Theoretical edge seems off but maybe I’m missing something in risk management that the cashout actually helps with.