verify=0 on both sides? Yeah... how about nope. Why even bother with openssl without authentication?
I wouldn't use it, but it's still an improvement over unencrypted data. This requires an active attacker to do anything, whereas unencrypted data allows a passive attacker to eavesdrop.
Ever? For when you need to make your (already encrypted) SSH traffic look like HTTPS because of overly restrictive firewalls. Of course, that's not what the linked script is doing.