The thing is, it's an AoE dispel that dispels everything, including item effects (although temporarily). Also, destructive dispel. So you initiate combat (by design, you open most encounters), dispel every single effect on every enemy in the area, plus they're all stunned. You have a good point about it being inferior to weird, but, and correct me if I'm wrong, there are foes immune to weird, I don't think there are foes immune to dispelling and most of them will suffer from dispel, and thus the stun, given the prevalence of buffs here.
However, what bothers me is why Vek17 implemented the spell like this? In tabletop, it's mandatory, because of time stop and anti-magic fields, but counterspelling is a thing, and you don't deactivate artifacts, you destroy them, so you have to consider that. It seems counter to his philosophy for the mod.