f/2.8 IS USM is a compact and well-built prime lens with a nice wide-angle focal length, a good maximum aperture and a modern image stabilizer that compensates up to 4 f-stops

When using the lens with an APS-C camera the resulting effective focal length of 38mm is somewhere in between a wide-angle and a standard / normal lens and thus can be used for a whole variety of things

Nice focal length on a crop sensor

f/2.0 FF equivalent which is very close to the classic 35mm FF focal length.

On MFT, you will have a 48mm f/2.8 FF equivalent, which is very near the classic 50mm "Normal" focal length.

In fact, in some ways it exceeds them in terms of being much less prone to flare than either of the more expensive L lenses