Colors are useful. Perfect pitch is pretty much useless. The exception being a composer or school conductor (you really gotta scold those children, haha). While it is a fun trick to have, the practicality of it is very different from knowing what different colors are. The most useful application of perfect pitch I’ve seen is my high school orchestra teacher honing our intonation.
Do you have it? I've gotten a lot of use out of it, and I find there's a lot of people without it that love to dismiss it in these kinds of threads as useless. It helps me improvise with others, learn things quickly, play in tune on my fretless instrument, to name a few.