If you require more effects than a single unit can provide, I believe it’s worth every penny. I use it by placing one before the preamp and the other after, and all the effects work exceptionally well for me. Overdrives, compressors, chorus, delay, and more are all handled effectively.
The VP4 is incredibly user-friendly, and adjusting parameters on the fly is not significantly different from using a simpler effect pedal in my opinion. In fact, I find it easier to dial in settings on the VP4 compared to some of the Strymon pedals I had in the past. This consistency in my interaction with both units, which handle all my effects, is quite pleasant, unlike having separate pedals for each effect type.
From changing effects on and off, I'm more of a single preset, multiple scenes per song kind of guy (my main preset can cover over 80% of songs I play). So I use the Luminite Midi controller mostly to change scenes, and leave the VP4 in effects mode, that way I can tweak a scene to turn of Chorus or Drive that would be turned on by the default, as an example.
Also, with the Luminite Midi controller I can decide what kind of parameter the expression pedal will change and adjust that depending on what I need. Volume, delay parameters, etc.
The one thing that would be killer on this pedal is global blocks, like what is available on AxeFX III, but looks like that won't be available on VP4.
It also would be great to have a VP8 where it would offer more flexibility in routing effects pre and post preamp, and having a single unit would be better overall IMO. However, as I mentioned earlier, if you need more than four effects, the dual VP4 approach works like a champ.