Personally, I find it pretty amazing. It comes handy especially:
- if you have a development team where you have to schedule code releases in advance.
- if you outsource development work, but you want to stay flexible.
Link / click / form submit tracking in Google Analytics can be setup under 5 minutes without touching your page code.
Especially the GTM 2.0 is really cool, I love the new triggers and the new variables are GREAT:

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