muun: I just started a bard char for the first time. At startup, I get this flute, which is a stick with no perceptible merits. Said flute equips in my offhand, and my question is this: is there any reason that I might actually want to equip this stick?

Hickory: A flute is a bard instrument. Most have properties that allow the bard to cast spells per the flute's enchantment. Unless and until it is enchanted, there is no point equipping it.