I have found high pulls hit my entire back in a way that no other exercise does. Just like bent rows , pull ups and deadlifts hit my back in their own unique way.
Many say that the high pull is not a great hypotrophy exercise because lack of TUT but I have found the explosive nature combined with heavy weight and multiple set of 5-6 reps have done wonders for my traps, erectors, low back and lats ( to a lesser extent).
You might arguing that Oly lifters or people who do mostly Oly exercises do not have the back development of bodybuilders. That may be so but now were comparing apples to oranges. One is about appearance while the other is about performance. I will say this, with the exception of some elite bodybuilders, many bodybuilders may have a well developed back but it just lacks the "look of power" that you will see on strongman, powerlifters and yes, Oly lifters.
I use the high pull as just one exercise out of many for my back. It has it's place in an overall program just like any other exercise.
I also found it built a lot of overall strength. Very useful when I wrestled in HS and played college football. lifting a heavy weight from the ground, or from the hang position, and bringing it close to shoulder level in a explosive manner will make one strong, at least it did for me.
As far as those who say doing high pulls can lead to injury, I guess it can. But so can any other exercise. You have to be smart about not aggravating any pre-existing injuries or conditions.
The high pull is not hard to learn. Even then ,you don't have to have the technique of a world class Oly lifter to get benefits from it.
Fortunately for me, I learned about doing high pulls and power cleans soon after I started lifting at age 14. I am now 51 and for the most part never stopped doing them. They work for me. They may not work for everyone but the same can be said about any exercise.
Someone does not have to pick high pulls over another exercise. That's like saying someone has to pick DB should presses over other shoulder exercises or bench presses over other chest exercises.
I probably cannot convince you that high pulls are a worthy exercise. I know you cannot convince me that they are not a worthy exercise.