A point is an invisible layer which does not appear in your exported videos. The point exists in the viewer and can be transformed like any other layer. It can exist in 2D or 3D.
Point layers become particularly useful when you parent other layers to them. You can use them to pivot multiple layers around a specific point in space, for example.
Creating Point layers
Point layers can only be created using the New Layer menu on a composite shot timeline.
Controlling Point layers
Point layers do not have any unique properties and are controlled entirely using the standard Transform properties.