It's up there with Meteor Crater, but I can at least see myself using Meteor Crater before turn 5 (turn 3~4 with a ramp spell). Even storage lands can be tapped for mana at least once before that, and they have proliferate to make them better (but never even remotely good).
It's not the worst land ever printed. I'd say it's worse than Sorrow's Path and Wintermoon Mesa but better than Adventurers' Guildhouse and friends. So, yes, it's better than a giant rules cluster**** which does absolutely nothing in practical terms and depends on you having at least two of that category of card (legends of colors corresponding to the waste of trees you have in play) to do that nothing, but worse than every other land ever printed. I challenge anyone here to prove me wrong.