It's about increasing situational awareness. It's not a replacement for listening, looking around or using a mirror; it's an addition to those things. Of those things, it's the one I'd give up first, but that doesn't mean it's not adding information quite a lot of the time, especially in areas with relatively little traffic where you might not naturally be checking behind you every few seconds.
And looking around you isn't going to stop someone driving into you either. All these things, however, (looking, listening, radar) will give you more information and perhaps you'll know that, on this particular occasion, 'dive in a ditch' is the best course of action ! More probably, 'move out a bit to force driver to overtake wider' is the right course of action, but it's really all about having more information to act appropriately on.