Months ago I made a magden with the intent of building the trolliest PvP toon possible- snares, immobilizations, etc. She turned out to be fairly ineffective at anything, so I pretty much shelved her. I've been working on vMA on a magblade and was having some issues with her lack of burst heals and CC abilities. Someone on Reddit posted a video of her/his magden parse and I thought it looked pretty neat and fairly effective (37ishk DPS) so I decided to try taking my magden into vMA. I'm still working on getting all of her skills leveled up so I've not yet taken her into vMA, but I'm pretty pleased with the results of my first parse with her

My best parse on my main (stamblade) is 45k, but my best magicka 3 mil parse is around 37k with my magblade, so the magden's not super far behind, especially given that this was my first parse and that her gear isn't at all optimized- her Necropotence armor is still purple, as is one piece of the Zaan set, and Zaan and Spell Strat are hand-me-downs from the magblade that I'm using while I finish up her False God's set and decide on a monster set.
I get that it's still behind other classes in terms of DPS, but I'd say this is good enough for almost any end-game content. I haven't taken her into any dungeons or trials and I know that Zaan is generally considered a "cheese" set, but even without I think that she'd pull decent enough DPS to do almost all content in the game.
Also, it's FUN! Surprisingly fun. And with the above rotation I only use five skills in totality (shalk, cliff racer, fletcher, blockade, winter's revenge) along with the netch. Once she's got all of her skills there'll be channeled acceleration + self-heals as well, but, at least relative to the magblade rotation, it's fairly straightforward. She's also been performing surprisingly well in PvP with this build- I swap out SS and Zaan for Vicious Death and Thurvokun and have been pretty shocked at her survivability and damage output. Granted, I'm pretty terrible at PvP but I've never gotten this many kills before.
BiS? No. Ideal for optimized vet raid groups? Probably not, since, as people have mentioned, they don't bring anything particularly unique to the table and have relatively low DPS. Fun and versatile? Absolutely. If you're not looking to top the leaderboards for vet trials/vMA/etc then I think this is a pretty solid choice that people shouldn't be so afraid to try due to its reputation for being so weak. It definitely needs some love via buffs but it's still a comfortably strong class to play.