Divine Veil was originally the only party wide shielding that a tank could provide. Of course, that was back in Heavensward.

All you really need is a bit of foresight with it and communication. I usually pop mine when I know AOE healing is going out or shields, before a raid wide. It triggers of the AOE, pops up nice and fresh. If it doesn't, and I know we need it, I bite the bullet and Clemency myself.

Iirc it actually used to be worse. Not only was the cooldown on it longer, but if memory serves, back in HW the shield it gave was proportional to the amount of healing you received from the cure that activated it (or something else was jank about it... I was a WAR main at the time though). Of course, this was also at a time when we still had Stoneskin, and Deployment Tactics had just come out. You could stack Deployed Adlo, Divine Veil, Stoneskin, and the other mitigators at the time like Dragon Kick or Delirium, Storm's Path, and Supervirus to reduce a problem raidwide to 0.

It'd be nice if they changed it, but PLD doesn't really need anymore buffs.