Then you have the options like Keeper of the Veil and Find Familiar on ritual... like, what? A free Protection from Evil and Good every long rest in a Mind Flayer story is a significant boon, as is getting a familiar for free.
Well first of all we don't know how many we gonna be fighting but ok and lot of casters have that.
Second they give us item that does the same thing really fast. So on it's own it's bad. If it was packed with one more thing from that list sure...as is it's whatever.