It's main purpose is to catch runners and rollers. You need to do it more on prediction against rollers though if you want to be on the safe side.
You can also use it nicely to mix up your offensive options.
You should be catching rollers with it easily, well before they have enough time to get up and attempt to parry you. If you're getting parried by someone who rolled away then you're doing the move way too late.
It's clear you don't have any clue about this game guys... LOL
Anyway, do I have to mention its bugged as well ? You have someone on target and it charges the closest target or THE WALL ? ) ( it has some patchfinding bugs, tipical for Ubisoft)
Unless they have changed it I've had a different experience with valiant breakthrough I've killed people a floor above me and the tracking has teleported me half way around the map using it.
i catch people all the time with it, it does have to be anticipated because rolls are fairly quick this is where being able to read your opponent well comes into play, but i still can land it often enough for it to be considered viable in the tool kit im a rep 60 warden main.
I get caught with that quite often sometimes, that's usually if my warden opponent figures out I like to roll. If they do it at the right rime before I get up from my roll I'll usually get smacked before my guard gets up.