Yes, expanding the Outliner tree works of course! But with this nested view it’s difficult to keep track of – say – 3 layers of bones (for a simple IK-FK Switch chain).
In the Schematic, you clearly see which constraint goes where and you can sort your tree just like you need it for your current task.
I guess, people who worked with Blender from the beginning, won’t miss the Schematic because they are used to work in the Outliner.
I personally think, the Schematic gives us a great deal of clear overview, makes Rigging simpler.
Cheers!
Wolfram