I think it's mandatory on some of the supports like Soraka, Lux, and the deleted version of Taric. It's also good on some middle lane champs depending on the enemy team composition. I've tried it on jungle champs with below average results. Flash tends to be really good on jungle champs simply because it's very difficult to trust your allies(you may need to quickly abandon an aggressive play on your end because they are doing something unexpected), plus it can help you catch an enemy off guard in a case where you normally wouldn't.
If it were changed to allow at least the ability to cast spells while knocked around, I can see it becoming a very popular summoner spell on support champions. You could use your shielding, healing, or something like that where you otherwise wouldn't be able to. It would also add a lot of value to silence, and right now I honestly feel like there are too few silence effects in the game, maybe newer champions(or reworks, after all Galio is changing soon) will address this.