Attempting to summarise a person in 4 letters is obviously limiting, but on a personal level it always seems to concur with my personal 'sense' of someone. I think the problem, as always, is how we use this kind of information. I've see HR teams get all excited about the team fit of a person based on Myers Brigg when it was pretty clear to the team itself that was not the case. However, I once had a colleague who I found difficult to work with (the situation was mutual) but after a 'profiling session' I discovered they were more introverted than I thought and came to understood what that meant. This lead to a great improvement in our relationship. Sure maybe a 'good old chat' might have sorted it out but I guess that's what the profiling session was.
I'm an ENTP by the way.