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I've seen people using them to throw pilot lines for rope handling. They seem to work well at that.

I've used them to function check blast pressure gauges.

I wasn't involved but I'm aware of them being used to simulate water spray when submarine launched missiles clear the water.

That's three "non toy" uses.

Then there are the T-shirt cannons popular at Sportsball events. I'm not sure if that counts as a toy or not.

Oh, and some water fountains (see: Bellagio casino in Vegas) are little more than air cannons shooting water slugs.

I was asking myself the same question. Thanks.

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