He did it as a substitute for lightning blade but it seems he also made sure to improve every lightning blade aspect with PL
It seems like it can do the same amount of stuff too but unlike the lightning blade he can whoop it out more quickly without the needed stances, etc....
Since he wanted to make a move that can be used without the Sharringan meant that he actually had to complete the move he didn't complete when he was a kid.
Basically he actually completed his move now and if Sasuke had PL it would likely be more efficient then the chidori he has now (and chidori based moves).
As in if Sasuke switched all his moves to being PL one's instead of chidori one's he could likely (with his skill) make a better result.
Look at this
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Sasuke still had to do hand signs compared to PL that doesn't need it.
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Output is all based on chakra control, potency and skill.