This spell is extremely useful on the Agnarr server while soloing or duoing as a paladin. Nearly all of the BoT named are clerics, and while this does resist sometimes, it can be used in combination with Timestone Adorned Ring to deplete their mana pools. Useful as named giants also tend to be very stun resistant and can sometimes get CH off even with Divine, Akilae, and Quellious being dumped in to them.
I see some people condemn this and say it shouldn't even be purchased. It may not be as amazing as spells like Shackles of Tunare, but this is a valid part of the paladin toolkit and has its uses where you have to deal with gating or CHing mobs.