To everyone saying "why not just leona, flash counters his cc, blah blah blah" Let me explain to you when you are wrong.
You aren't totally wrong, leona IS tankier naturally and she has more single target cc.
However, as the game progresses and carries get thier qss and mikaels and all that, Jarvan's Cataclysm becomes some of the most guaranteed cc in the game. Also, agaisnt things like Morgana shield and sivir's spell shield. You can't break his cc because it isn't really cc. And being able to blow 2 or more flashes with 1 ult is worth anyway.
You're also wrong when you say he has less sustain than Leona. You've clearly never got behind as leona, because she is WORTHLESS if you can't win a fight. Jarvan can still sit back and poke with his q, he can bush check with his e, and he can trade in short bursts with his w. And the best part, he can proc his targons at range with q or e without risking diving in and dying or having to face tank the wave.
So, I don't think he's nessecarilly going to replace your Jannas and your Threshes, but he's a very good counter pick to a lot of things. VERY good.
Oh, also in response to the notion that Jarvan has to dive in to do his stuff, well, yes, technically that is true, but unlike leona, he doesn't have to STAY in. You are allowed to e/q OUT of your own cataclysm as well as to close the gap to get it down. leona doesn't have that option.
Really, to my mind anyway, Jarvan is actually the safer, less Ham option between the two, with the added bonus for soloq that he can actually do things on his own without his team being there in order to make his damage worth something.
Oh, and the last advantage he has over basically every other support in the game is his ability to get deep into the jungle and put down wards. Even Lee Sin can't get wards where Jarvan can because lee needs to keep some for his escape. Not Jarvan. You have an insanely dangerous place you need a ward down? J4's your man to sneak it in there.