It's not useless if it's good enough for the problem at hand.
Kaze Emanuar has two entire videos dedicated to optimizing sin() on the Nintendo 64 and he's using approximations like this without issues in his homebrew:
I came to these videos expecting someone else pushing Taylor series, but this video series was surprisingly good in terms of talking about hacking their way through some numerical analysis. These videos started with Taylor series, but did not end there. They came up with some hacky but much better polynomial approximations, which are respectable. Production math libraries also use polynomial approximations. They just don't use Taylor series approximations.
Kaze Emanuar has two entire videos dedicated to optimizing sin() on the Nintendo 64 and he's using approximations like this without issues in his homebrew: