A card that would be great, if not for its careful, or possibly careless, wording. The simple fact is, if you're putting several copies of this in your deck, you're probably doing it in the hopes of defense against Scorched Earth.
But this isn't the case. Notice the words "the first." That means no matter how many of these you have installed, you will only prevent one meat damage per turn. Just as I've Had Worse won't save you from Scorched Earth if you have 3 or less cards in your hand, 3 of these will do nothing more to save you than a single copy.
In short, if you want defense from Scorched, you're much better off with the blatant Plascrete Carapace or the in-faction Crash Space. And when it comes to ice, this isn't much better. Checkpoint is still scary enough to warrant breaking even with this installed, and Flare's damage can't be prevented. Almost any deck running Punitive Counterstrike is sure to have big agendas, again limiting MB's effectiveness. If only instead of "the first" they had written "one"...
So you might be asking, "Where is this is useful?" Argus Security: Protection Guaranteed is considerably less threatening with this installed. Traffic Accident is also less painful, as if having two tags wasn't bad enough (unless they're from Breaking News), but I'd much rather have Lawyer Up or Decoy.
Overall, there are much better options. If you're worried about not having enough cards post-damage, Anarchs have I've Had Worse, which also works against net damage, with the only caveot being you might have other cards in your hand. Other factions have Public Sympathy, which offers more utility than MB, and costs only 1 more. And if you want to avoid meat damage altogether, the aforementioned Plascrete Carapace and Crash Space are frequently better options.