So far I’ve used it for things I didn’t want switched/pressed on accident. 
I can see the advantages for something like FORMcard even in a world with instamorph but I think I’d still get more use out of instamorph.
Note: Just watched the video and I’m sold. Sure, I could make one myself out of instamorph but then I’d have to make a mold and do the boring work of molding a bunch of instamorph so I could use it later for a real purpose. 