With Undimensioned and Unseen, we might have seen the first real target for Mind Wipe. And man is it a big one. Spoilers ahead:
Taking down a Brood of Yog-Sothoth is no easy task. First, you need to find the Esoteric Formula before you can even attack it. Then, you are faced with making a combat check against 6 to damage it - made easier by clues you can put on it, but 6 is nevertheless the highest combat we've seen on an enemy thus far. Even if you succeed, you only deal one damage to it, whereas it has 2-5 health depending on how many investigators you are playing with.
Or, you can skip all that and play Mind Wipe. Better yet, since you are probably playing Agnes Baker anyway and have Forbidden Knowledge, immediately follow up with taking 1 horror using Forbidden Knowledge and kill a house sized invisible monstrosity without breaking a sweat.
Oh, but you don't get its Victory I. But I think that's a fair price to pay for the amount of effort you save.