I don't think there's been a topic on this, so please forgive me if there is.
I can see it being easily abusable if you use it a lot, but otherwise, I quite like it.
I've used it a few times to get myself out of really BS situations, such as Kamui getting crit and dying to the boss in Chapter 2, and helping myself escape from the rare encounter in the first cave, when I went back at the beginning of chapter 3 to do a sidequest.
So yea, I think it's pretty neat and helps mitigate really unfortunate situations, and think it can be nice, if a little abusable, for other things.
What are your thoughts on it?