On the CM7 it is certainly one of the best combinations of speed, cost, complexity, pins, etc.
Caching hides a lot of the potential down sides.
Boards can use simpler SMT parts, lower cost PCBs.
I might use it primarily to park large graphic images.
Not particularly good for data storage or logging. For that you'd probably want to use NAND, or eMMC if you want the memory to manage itself.
One might however introspect as to whether there was a misjudgement about exactly what resources the project required at the outset. If for example a tablet SoC with large DDR3/4 memory might off better speed, resolution, or pricing.
