They really just need to make it resummon the fairy at the end.... The MP cost (and possibly time to resummon it) is what makes the skill aweful.
I mean, I still have it "in case".
However, with the buff to hasted etherflux it's less terrible. At least you gain another 15sec CDR on your flux.

But really, the day they make the spell resummon the fairy, you'll see more people using it. It would still be an emergency spell though.