PIKfyve inhibitors have evolved from niche probes into powerful tools for studying endolysosomal biology. Although PIKfyve inhibition has revealed important roles in membrane trafficking, autophagy, viral entry, and cancer-cell vulnerability, clinical translation remains limited by a narrow therapeutic window because disruption of PI(3,5)P2 homeostasis causes profound lysosomal dysfunction. Future progress will depend on tuneable or partial inhibitors, improved selectivity, and targeted delivery. PIKfyve therefore provides a useful model for balancing potency, precision, and safety in lipid kinase drug discovery.