Is there a point to having both iCloud Photo Library and Photo Stream enabled?

If you have an iOS device, then you can use iCoud Photo Library to store and sync all of the photos and videos to the cloud. You will see the setting for iCloud Photo Stream and iCloud Photo Library on all iOS devices. If you have iCloud Photo Library to backup photos and videos, then what is the need of iCloud Photo Stream? You will notice that when iCloud Photo Library is enabled, you can not use iCloud Photo Stream.

iCloud Photo Library allows you to automatically upload and store photos, videos or an entire library in iCloud to access them from all your devices, and My Photo Stream is allows you to automatically upload new photos and send them to all of your iCloud devices when connected to Wi-Fi. Basically, iCloud Photo Library is the advanced version of the original My Photo Stream feature. iCloud Photo Library is the best option to store your photos and videos to iCloud, but you need to have a sufficient storage space in iCloud to store your data. If not, then you have to subscribe for an extra storage space. My Photo Stream stores your most recent 1000 photos or the last 30 days of photos to the cloud. iCloud Photo Library and My Photo Stream are different places in iCloud. So, photos and videos stored in iCloud Photo Library are not stored in My Photo Stream and vice versa.