I've always saw this card as a corner-case until very recently. In fact, in a recent draft match it became my M.V.P.
Cheap to install and to use: it can shine in the early game.
It' important to understand that it's not a Killer and should not be considered as one.
It breaks only 21 of the 46 sentries (after order and chaos) and is useless against non-tracer sentries like Archer, Fenris, Komainu, Grim, etc.
But, against sentry-tracer, it's generally cheaper to use than Ninja and Alias. And compared to Garrote, it cost 5 less to install and need only .
Since Killers are so expensive to use, adding Gingerbread to your deck is a good way to decrease the cost to break some of the sentries, but you'll still need a better killer in addition to gingerbread (probably Faerie).
In addition, it can also be use for some code-gates: Checkpoint, Salvage, Viktor 2.0 and Viper.
So the question is: does breaking tracer ICEs for 1 or 2 less worth the deck space and the ? Maybe, depending of your meta. And if you chose to add it to your deck, it's probably better as a one-of.