It is powerful. The contracts run 24/7 with 100% uptime. Hayden Adams created Uniswap with about 1000 lines of code using an elegant xy=k formula to create the first good automated market maker, Uniswap. It essentially replaces much of the functionality of an order book on a stock exchange, except it's decentralized, global and permissionless. Plenty of other good examples in web3.