It's particularly suited to use cases such background jobs, workflows or other operations which occur within your application and scales well enough for what 99.9999% of us will be doing.
It's probably more correct to say that the engineering effort required to make a Postgres-as-a-queue scale horizontally is a lot more than the engineering effort required to make a dedicated queueing service scale horizontally. The trade-off is that you're typically going to have to start scaling horizontally much sooner with your dedicated queuing service than with a Postgres database.
The argument for Postgres-as-a-queue is that you might be able to get to market much quicker, which can be significantly more important than how well you can scale down the track.