I'm reviving the thread after some additional findings that are reasons why - despite my best attempts to use it - it has glaring issues for a mechanic that could be really fine to use:

1.) Without jumping, you cannot enter a bosses' hitbox. It will keep you stuck on the ring without letting you enter the middle.
2.) When trying to move sideways while inside the hitbox it will try to move you out of the hitbox first.
3.) You cannot look behind you at all. You can zoom out a fair bit, but you cannot turn the camera and let it pan back into the original position to check behind you.

The problem with this is that there is a lot of donut-style AOEs where the safespot IS within the empty space of the target circle, for example "Doomvoid Slicer" from E2S' "Voidwalker".

I am really hoping for a change to the lockon mechanic to allow for more free movement of the character and less rigidness regarding camera control. I know it is super low on the list if at all on the list, but I really love this mechanic and wish it would be better.