Except for Bounties, is there any other "functional" use of reputation points? I'm not asking about privilege, my question is about the direct benefit that a user can get by having more reputation points, that allows him/her to get better answers to his/her own or other users questions (as in bounties) or helps her/him directly achieve a better educational level of Blender.
Does rep "directly achieve a better educational level of Blender," nope.
It is possible that when you have more rep your questions will be looked at more, but still unlikely and about the most benefit you could get.
So no rep has, and isn't meant to have any bearing on the educational value of the site.
Reputation is a measure of trust (as one way to put it) or knowledge, not only in blender, but also the SE system; and nothing more. It was never built to help or hinder, you or anyone else from learning from the site.
So if you don't care about the higher privileges, and are happily learning and using BSE now, then there is no reason for you to try to get more rep.
(An interesting side note though, SE has become so big and influential that having an account with useful activity and high rep actually is a bonus when looking for a programing job. Who knows, maybe BSE will play a role like that for blender in the future.)
< joke> In the mean time, you could always go to the prize page and spend some of your rep. < /joke>
$\begingroup$ "then there is no reason for you to try to get more rep." Generally most helpful actions on this site reward you with rep, technically, saying that means don't do anything helpful. :P $\endgroup$– Luka ashJun 15, 2016 at 2:07
$\begingroup$ @Lukaash That certainly isn't the way it was meant to be taken! :) More for the people that actively try to get rep (because they need a bigger number). $\endgroup$– DavidJun 15, 2016 at 15:02
$\begingroup$ @Lukaash "Don't try to get more rep" != "Don't get more rep". Just because you aren't using the site for the rep doesn't mean you won't end up with some :) $\endgroup$– gandalf3 ModJun 15, 2016 at 18:36
$\begingroup$ @David Don't worry, I know, was more just saying for sarcastic purposes. :) $\endgroup$– Luka ashJun 17, 2016 at 14:32