Bard's major Strong points come from his flexibility and catch potential.
A Good bard can cut off enemy options using his ultimate, ruin enemy engages by ulting their followup, and lock down opponents with his low CD cc.
E is a powerful flanking tool if you use it right, and can be used for Mass escape/Chase if your team recognizes the intent.
Bard has a good kit, the issue is the burden of knowledge to play as and with him. If Bard tried to make a catch and you start throwing your damage combo, Then yeah Everything is going to fail, but more often than not this isn't an issue of either player "fucking up" but rather a lack of communication leading to clashing outputs. With good coordination, Bard has fantastic teamfight presence and can set up kills incredibly well from an insanely long distance. Also Bard is unique in his ability to stall objectives by Stasis a la (turrets, Dragon, Baron) allowing for potential followup assuming his team is positioned correctly.