Israel much more advanced version worked pretty well in the recent wars in Gaza.
Such active protection systems is the future of combat. Beside tanks use case, a helmet mounted radar today is able to detect the incoming bullets, so similar system can be built for human body protection. At another scale - a military plane today do see incoming missiles, so similar active protection can very effective there too.
The development of those systems is electronic tech dependent - one need fast precise radar and fast precise calculation for the 2-3 sequential stages of the defense projectile boost as the incoming projectiles of interest are starting from the Mach 2 and all the way to about Mach 6 (RPG with its less than 1 Mach is not that important as new systems like the Israel's one do handle them easily, it is more of a matter of whether your military bought it or not). With modern electronics and computation power the interception of projectiles with up to 6Mach (Russians declare up to 10Mach on Armata tank, though one yet to see it :) becomes real.