It's good enough when you can configure it and apply it selectively. If I want to clean up a function in my code base, I can e.g. select it and run "perltidy" over it, which has a configuration dot file for the company code standard (or CPAN guidelines etc.).

Or just clean up some nags so that version control behaves better. But if the only option is not running it at all or having all the code automatically fit to whatever the people On High have deemed to be visually pleasing? Yeah...