In my experience, points are more accurate than hours, since most people work with high variability in productivity over time that can't be captured by a mechanism as crude as a stopwatch, so a corollary metric creates a more accurate number than an absolute metric.
Yah exactly. A scrum master will also say never try to equate points to hours, its a losing game.
But being able to look back in May and say we logged 32% of all development hours on bugs is a very useful metric for me the business owner / dev lead.
(In addition we don't do story points on bugs. I am so far away from the by the book agile thing, I don't even know if this is correct or not anymore).