I'm running a 248B model on a paltry amount of hardware and getting plenty of good use out of it.
Sure, the most demanding tasks will demand the best models (and always will). There's still less demanding tasks for other models.
I think some people are fooling themselves that coding of all tasks is always going to requires the biggest models ever. Again, maybe some coding tasks will, but the majority of business CRUD apps probably don't. Same goes for virtually any other type of task. The biggest models are really only useful for the most complex tasks.
I primarily use it with my own harness for coding. I'm not going to say it will compete with Opus in the most challenging domains, because it won't, but I will say that there's a reasonable likelihood that Opus is used for tasks that a model like Flash could comfortably handle at 1/100th the cost.
So far I've only seen it struggle at tasks that I myself would struggle with. Tasks that I can describe the shape of the solution for, it has a high success rate at implementing.
Useful is going to be different for everyone. I'm not working on the hardest problems, I don't need the best models.
I do not see how being experienced in engineering, or having higher studies in computer science and economics should make that view less common.
Now this might not be the most cost effective (and may require a bit extra power), but you only need a datacenter for training or cost optimization.