Yes, the point is speed differential. If there is no speed differential, there is no reason to use your flashers.
On the other hand, if the rest of the traffic is doing 70 and you are doing 45, yes, you need to warn people, and that is what flashers are for.
Using flashers when everyone is going slow, or in stop and go traffic actually creates a hazard. The flashing is distracting and you could easily cause the guy behind you to miss something important farther down the road. Not only that, but you actually loose reaction time as one must differentiate the flasher turning on, and actual brake lights staying on. Probably loose over a full second of reaction time.
Unless you are the emergency, you should not be running your emergency flashers.