Unless they fix reactions, Paladin’s smite and any caster’s counterspell is going to suck as much as the riposte maneuver does now. You’d have to toggle them on prior to the end of your turn (for counterspell) to use them on enemy turns or before your attacks (for Paladin). Did you hit something resistant to radiant damage for 4 damage with your longsword? Well you just lost a spell slot to deal 1 point of radiant damage. Did that enemy caster just cast fire bolt? Well you just lost a 3rd level spell to counter that.

I’ve experienced this kind of thing with the Battle Master. I want riposte on in case that bugbear misses. Then up comes a 4 hp goblin to miss my fighter causing her to waste the reaction on something insignificant.