It's hit or miss for a lot of people. The first thing is understanding how to use it. Weaving doesn't magically change with this ability. You still want to light attack -> skill > delay -> light attack, etc.

People read it and try to skill -> light attack, but the global cooldown after abilities can not be cancelled by a light attack, only the animation can be canceled since it's an instant ability.

So, once you understand how to use it. The question is if you like using it. The delay means anytime use cast the ability, you really only get the damage 1gcd later. You will find many instances in fights where you cast it, but you have to dodge roll and you lose the cast. It does refund you half the base cost, I think it's 1350, but these 2 concerns might actually hurt your DPS and sustain in practice.

It meets the instant cast spammable standards. You will notice it has the exact same damage, cost and range as silver shards from the fighters guild. It comes on top in terms of healing and defense (passive shield), as well as dps (5 casts for a free orb). It falls behind in terms of actual use (only works 1gcd later) and cleave damage (completely single target).

So up to you. Something like Rapid Strikes does more single target damage due to the morph/channel/melee/passives, but they cost the same too.

Edit: you said ele weapon, most of the comment still applies. The comparable skill would be force pulse which has better cleave, but ele weapon has better single target DPS because of orbs and status effects.