The main reason Dancing Light feels garbage at the moment is because you don't need it: the Underdark is way too bright since patch 8 (not in line with dnd) and the disadvantage from shooting at "obscured" target is more than compensated by the constant advantage you get from simply holding the higher ground (not in line with dnd).
Well, you don't get advantage anymore from being on higher ground, just +2 - so you still loose out on your chances to hit.