I wouldn't want it as a base for developing something new, but if you are knee deep in some old, smelly codebase that should be fixed yesterday, I can definately see how it could be usefull.
Let's see. Practically - a web templating language with weakly-typed bolt-on OO 'featurettes' now has an embeddable, weakly-typed, object-oriented scripting language. Hello run-time heisenbugs that can NEVER be unit tested nor debugged.
Anecdotally - let's face it; there is no shortage of crappy php and javascript out there. This is an open invitation to merge the two into one extraordinary megaclusterfark.
Yes, but it could still be legitimately useful. Show me a powerful technology and I'll tell you how it can be misused, but that won't invalidate its potential usefulness.
