I find more uses for it than stacking points.
Situations where DPS get hit are not as rare as you are picturing them, even in 4 man content (to a lesser extend, of course).
The thing that need practice and good judgement is valueing medica(1 or 2) vs. cure III.
Why are you still saying its MP hungry? Its just feeding to the misconception (IMO!).
I just gave the example of two players that have taken damage, where 2 cure IIs are more expensive than one cure III and take double the GCDs
Do I miss something here?
Especially if you want to add damage, saving GCDs on healing is key