If it were as cheap as the Rouncey, it would be almost ok. It would still be worse then the rouncey except one point more speed which is hardly worth the tradeoffs.
But a cheap man's horse... yes.
As it is, it is a waste of database space. Although, tbh, all you see, with reason, is rouncey/arabian/courser/destrier. The armoured horses make a showing now and then and have their place in clusterfuck maps. Rouncey is on the list because it's cheap and decentish. Courser is for running away, and arabian is the best lancer/HA/whatnot horse. Destrier for slashing & bumping, or if you hate arabian horses.
