It has good early base but it's per lvl base is weak and it's scaling is mediocre. Riot made it that way because 1 good damage ability is all a support needs to contribute to a teamfight or in lane (especially when they have high utility), they realized it's too weak that why you can see the cooldown reduced per lv changes made I think on the last PBE update.
No his utility is high and strong, and that's mainly why I like him... That and the fact that he roams to improve his skills. But what good is utility if they are so many requirements to follow and so many built-in counterability for enemies to capitalize on like, his Magical Journey and the fact that stasis enemies don't take damage just gives them time to determine their next move while the stasis is off. So far the 2 single most effective ways I have seen to use his ult is:
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To stasis half of the enemies in a teamfight and try and make it a 5v3 or 5v2 and kill off the un-stasised targets while you wait for the others to come off stasis.
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Stasis a turret for a good tower dive to low health enemies while you stun targets then constantly analyze your ADC's health bar as you auto attack enemies, maybe open a magical journey through the wall for assured escape.
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The least impactful in my eyes. Stasis a single enemy for your team to group up around him and demolish him.
The thing is his Meep passive can be wasted on the wrong target, and he gets less experience for collecting chimes than sitting in bush near enemy minions while your ADC farms.