It's not ridiculous at all, it's excellent once you learn what its for which you've not yet done because you incorrectly state the vents are not controlled by the CC system. They are.
With the wheel in the centre position, the output from the centre vents is totally controlled by the CC system. But the wheel allows you to temporaily override the vent temperature. Perhaps although the car is set to 21c you want a blast of chilled air in the face? Maybe you want warming up? The wheel allows this where other CC systems don't unless you change the temperature setting for the entire zone.
They are a fantastic part of the BMW CC system which you really, really miss when you don't have them. I never touch the CC in my 530i, it's always right and always set to exactly 21.5cc. I just use the wheel as and when I need it.
Just spent 3 weeks in another car with conventional climate control. It drove me insane and I had to kept changing the temperature setting...