I personally credit it with saving my life, it is effective against extreme depression. But it's also not something I would recommend to anyone, unless they had it exhausted their other options. Using it for conversion therapy is barbaric. Using it for anyone that is not severely, overwhelmingly depressed, an immediate threat to themselves, and who is had no luck with more traditional treatment despite trying for months, is barbaric.

I've heard that transcranial magnetic stimulation can be as or more effective re: depression without as much, brute force, but thankfully it's been a long time since I had to research this sort of thing.