I haven't tried it since my first 15 minutes.
Nothing I've heard since makes me want to try it again, even though FD keep promoting it.
I think it could be popular if they made a few changes. Make it an in-game feature. Fly your ship to a system with an arena, wing up, and start playing - either against your wingmates or against another wing (even in Mobius). Maybe have the option to fly your own ships (minus the insurance charges) or fly the provides ships. I'd find it more realistic if it was simulated damage rather than actually blowing up thousands of ships, but of course you still fly real ships and can be damaged if you crash. That's just a few thoughts.