Actually I've been using it all the time ever since it came out in beta. Being able to set it to record certain games automatically so I can share something funny or report cheaters after the fact is amazing.
No need to fiddle with OBS to find some instant replay like thing, remember to start it and then edit them in another piece of software. it's all right there, built in to Steam, and so easy to use that I often trim and save clips during gameplay.
They have been for the longest time, and it's as ridiculous as it sounds.