Its actually stronger than an AoE stoneskin on everyone but a Warrior in Defiance as the shield is equal to 10% the Paladin's hp. With an i210 Vit Paladin this is 40% (Dragoon) to 60% (Healer) stronger than Stoneskin if they are in i210.
The biggest problem I've seen with the Divine Veil is that it scales best with Vit, but the current meta favors Str.