You can make the Caps Lock key even more useful by turning it into a "Hyper" modifier (Command+Ctrl+Option+Shift) when it is held down (great for system-wide shortcuts in Hammerspoon[0], since application shortcuts that use all four modifiers are very rare) but acts like pressing "Escape" when it is tapped.

This is easily done with Karabiner Elements[1] and a simple rule[2] you import and enable.

[0] http://www.hammerspoon.org

[1] https://github.com/tekezo/Karabiner-Elements

[2] https://pqrs.org/osx/karabiner/complex_modifications/#caps_l...