I think it's pretty useless, honestly. Elemental's damage is now competitive with many other classes but I'd like to reference something Ghostcrawler says a lot: gear and skill in a balanced environment are the most important things. You may top damage meters in your guild but the other DPS players may not be very skilled or may not make optimal gear decisions. Look at the WWS parses from top guilds; Elemental Shamans aren't topping the meters in those guilds because all the other players in the raid are so uniformly good. In EJ raids I'm in the middle of the pack, but if you look at <random scrub guild>'s WWS I'd be at the top with the same numbers.

In short, Elemental damage is competitive and I don't think it's likely to be nerfed.

That's not really true; popular sentiment and arguments made on various forums including this one absolutely have an impact on internal Blizzard discussions and many changes they make are influenced in some way by player feedback. It's not usually a big impact, but it matters.

Anyway, here's the top legitimate Patchwerk parse on WWS: Wow Web Stats

It's pretty much the same as the other top parses. An Elemental Shaman finishes in the top 5 or near it during a fight that was around 2 minutes, had all the necessary synergies for Elemental success and displayed an aberrant crit rate. To be fair, those crit rates are inflated by a high percentage uptime for Elemental Mastery but they're considerably higher than the Shaman would normally get. Still, it shows pretty accurately the current state of Elemental Shamans. We are competitive with other classes, enough to finish within the top 5 and not too far behind anyone else in a really ideal situation. That's fair, and for a hybrid class it's a good situation to be in.