But counters are many and common that it's worth it, It's not like I didn't use it, I personally use it has been quite effective, it spreads burns efficiently because of it's great speed, what's the point? Imagine a Burned Garchomp locked into Outrage, you can easily set up with Bisharp and sweep, it supports the team members greatly and helps them set-up.
Psycho Shift-ing burn + healing Wish is great support for any kind of pokemon that can set up, and again with the speed it's easily one of the best burn-spreaders ever, not to mention it has great power to still do a lot of damage with Draco Metoer.
It also has the element of surprise, luring the likes of Bisharp only to get burned and then set up on it with another mon, it's gimmicky but it works, tbh early in the meta WoW Mega Char X / Mega Char Y and Stallbreaker Talonflame all looked extremely gimmicky, but still got to be used later as an officially competitive set. Another example is Quag, which looked extremely gimmicky early on and in BW, but now one of the best pokes on stall. I'm not saying this set is the best but a pretty decent one that deserves an analysis at least.
Tbh some viable set still look gimmicky, but if a set "looks gimmicky" or is gimmicky itself doesn't mean it can't do what it supposed to do or not be viable.
Also you don't lose 12% first turn, and if the opposing pokemon is a Knock off pokemon like Bisharp, Lando-T, or Mega Scizor then it's even better, but regardless Latias can survive the burned hit + 12% + use healing wish/draco, it can also be used in conjunction with Recover to further spread burns.