I find the metrics useful for managing my devs, but only as a secondary set of measures. If a team is hitting their goals for the project, I never need to look at these measures. If the team isn't hitting their goals I need to dive in deeper and these stats help me determine if the problem is the engineers just aren't working, or if its an issue outside of their control.
Its also been a good piece of ammo to help train non technical upper management into accepting work from home more. I can show them directly how much the engineers are working and they lose that fear that people are just shirking their duties when they work from home