I have one and coincidentally I just bought a new bag for it and will be repacking it today. And after discussion last night we are also going to add a block and pulley to it.
I do see a use for it in that some of my guests are quite "hefty" and after bringing them to the gate or swim platform still means getting them up. However, the problem for my wife will be if I go overboard and she has to manhandle me.
Now if we/she has the time and the right seas to get the swim steps down then we probably wouldn't need it.
If it hadn't come with the boat, would I have bought one? Don't know. We do a ton of cruising just on our own, and often off shore, so probably yes for the price.