If you can afford to play this card in a Fellowship with an high player count this is basically one the best cards possible for a mono-Lore deck. Being able to avoid all enemies except those that you want to engage (although to a limit of 1 per player) is worth its weight in gold, especially since you can re-use this card for quite cheap with a Scroll of Isildur.

I also think it's worth noting that it's an Action not restricted to the Encounter Phase, so if you find yourself in one of those few quests where you are forced to make engagments checks outside the Encounter phase (and you have an available Action window) it can still be quite powerful to use.