There was a post in the Conan section about this topic… I think the biggest thing that threat does is that it makes the stuff a GM throws at players something that is a result of the players’ own actions. I posted the following there:
(Some relevant sections from the GM’s guide are quoted: Doom spends vs. just doing normal GM things? - #2 by Felderburg)
The GM’s guide offers this:
Daring: In many ways, Daring is the polar opposite of Control. Daring is all about quick action or reaction in the face of trouble and when needing to respond without the time for clever planning. Anytime your players are immediately responding to something, jumping into a situation without time to think, or relying on pure instinct, use Daring. When describing an activity or action, use Daring if the narration includes: quick thinking, acting on instinct or instinctually, snap decision, reacting, stubbornly, aggressively, or daringly.
Someone who is better at making quick decisions or has a higher daring score is better at doing things quickly. Sure, it’s a personality trait, but someone who is not used to being daring may not do daring things as well as someone with a high daring score.