If you mean SEO benefits in terms of crawl rate or faster index, then yes it's benefit, because Google crawl your homepage often, because you've link to it from many places like header, navigation or bottom.
But there is no any ranking benefits for permanent, once those links are goes to other page like page 2 then it will get very less juicyrank(PageRank), so it is not permanent benefits, but sometimes temporary benefits helps you, when those blog post are about new trends.
So dynamic nature is answer in itself. Google give value to your latest post and when they disappear from your homepage, then it will give less important to those links. And re-calculate PR again to give more importance to your new links.
So PR is calculate every time when Googlebot crawl your pages. When any pages drop some links then Google cut their aid to those links. It's that simple to understand. Google does not care it's homepage or not, it's pure maths.