Yeah that always seemed like a pretty bad miss to me. Only ever used it the once until I discovered that when moving frozen synth clips in instrument tracks it didn't also move the underlying midi, so unfreeze a few synths for tweakage and suddenly you're all over the place. That was enough for me to pretend it didn't exist and carry on the way I always had.
The one that will always annoy me most is that they somehow broke the undo function and never fixed it. Hard to believe that was a difficult fix, but it just got ignored.