Consider that a single point in a mastery is usually about 30 to 40 gold worth of immediate benefit, with double that for per level gains.

The bisquit is about 45g worth of health and mana, relative to potions so its cost effective.
Wealth gives 25g but allows you to pick starts not otherwise possible (i.e. machette and crystal pouch)

This means an ADC with utility (unlikely I know), could start with a Dorans Blade, 1 health pot, and 1 semi-pot.
A toplaner with utility could do the same, and even have a 1 minute ward to drop after laning starts to prevent early ganks.

Im sure there are better uses, but those are some examples.

If you think stuff like the biscuit and pseudo-ward aren't worth a mastery point, you're grossly mistaken about the value of other masteries. The ones that help you out in the first 5 minutes are much much more useful, proportionally.

Pickpocket sounds better than it is (like most gold generating masteries). It's very risky to harass that much. Even if you pull it off perfectly, don't get counter harassed to death, and do it CONSTANTLY, you might make 180-200 extra gold during the laning phase (it will probably be closer to 100). That's much less better than it sounds. It's not helping your early game and it's useless mid to late game.

A fight starts.... you eat a biscuit and pop a health potion as you go in. The enemy only pops a health potion. Who wins?

They call it a lucky first blood after you escape with 20 hp, but you know the truth.

Question: does GP's Parley apply pickpocket, assuming that it behaves almost the same as auto-attack does?