I agree with you for the most part. Some other pros:
1. Immigrants here don't have high school classmates or college friends. So we have a smaller circle. Online provides a viable option.
2. With people online, you know what they are looking for. But in real life, you don't have a clue.
Some cons:
1. It is very time-consuming. you might have to look through 100 profiles to find one that you like.
2. The pics are very different from real people.