This card does a LOT of work.
It creates excellent value against pretty much every card a corp can install inside a server. It is often the most efficient option in the card pool for dealing with a defensive upgrade, an economic asset, or a kill threat like Dr. Keeling. Compared to the Boomerangs you might have previously been using for this, Pinhole is a click cheaper, $1 cheaper, and is effective against almost any conceivable defensive setup (including Anansis and Acme Data Wards and Skunkworks that Boomerang would struggle with).
It also helps you avoid unnecessary runs by letting you gather information on whether an install is or is not a must-run agenda, and helps you plan against defensive agendas. (If you've ever run into a Bellona without $5 available to steal it, or have whiffed on a Mad Dash, you'll appreciate this).
If you're on Apocalypse, this is probably the easiest way to deal with Crisium Grid.
Eternal
In Eternal, the interaction with Film Critic looks game-breakingly powerful? (In Standard, stealing an agenda is the ~only thing Pinhole Threading can't do. In Eternal, grabbing agendas with Film Critic is probably PT's highest and best use. This is way too much value for a $1 card, particularly one which is useful in many other situations.
Honestly a bit surprised it's only 1 influence.
— bosky