A titan with fist of panic when Taken come is useless. There's more than 1 group of taken. Hammers, maybe... But Stormcaller should be used to clean that up if needed.
If it's useful anywhere, it's in generating orbs after staggering Oryx if you've already got your bubbles covered. Tether the thrall as Oryx regains favor. Wait for the ropes. Smash. 14 orbs.
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Nah, that's your experience...which can change from one team to another. In general I would agree that in most cases you're right though. But when things get dicey in the pit, and there's no tether, a FoH smash will clear out the area for the last fraction of damage time. Is it really needed? No, not with a fireteam that consistently does it right with tethers and bubbles.