There's a perk that raises damage; however, I didn't find them as useful after level 18ish. Except for soul trapping.
They're weightless, can't be disarmed (good for annoying draugr), can't be poisoned, and can't be enchanted.
But, they do as much damage as Daedric weapons, have a chance of insta-killing Undead and Daedra, and have unlimited soultrap. So, they still have that in their favor.
No, they're not great for a dedicated end-game swordsman, but... A weightless, dirt-cheap Daedric sword or battleaxe before level 5. Good value for non-frontline warriors.
They also benefit from the relevant weapon perks.