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Because this interrupts all skills and not just spells, it is an extremely useful skill to keep equipped.
For Mesmers concerned with doing damage and not merely disrupting foes, Power Spike may be a better choice due to the superior recharge time and damage output.
Keep in mind that Cry of Frustration will damage and interrupt all foes (attacks and skills) in the immediate vicinity only if you succeed in interrupting the target foe. For this reason, it is sometimes advisable to target enemies with long cast times such as an Elementalist, Ritualist, or a Necromancer to increase your chances of doing the widespread damage and interrupt.
This skill is extremely useful at countering spike builds in PvP. Because a spike build activates their spells or attacks synchronized, a well placed Cry of Frustration will interrupt most of the spike.
Trivia
When a character is interrupted because of Cry of Frustration, they will cry out in frustration "#$%#!!"