It would save on space by having the option to free up/hide the corner text and it would display the information in a much more relevant area of the chart, not to mention being able to constantly still see the actual real-time spread value without having to look at the market watch window, a corner of the chart or having to bring up the object list and repeatedly refresh its list.
The spread in pips is meaningful to a trader who knows what he is trading. E.g., if spread jumps from 15 points to 80 points when trading EUR/USD, it means that volatility is high and it's best not to scalp until spreads are back to normal.
To bring in some meaningful spread value, the indicator should also consider a position size, which adds a whole new layer of complexity for using this indicator.
It might be a good idea to have an indicator that shows the spread value in currency units for a planned trade size, but I am not sure that the current Spread indicator is a right one to add it to.