It is the only squat I can do with good form. I also happen to be good at them (I hit 300lb on the zercher in 2 months, which took me several with the back squat). I hate the back squat. I have to have the bar the near middle of my shoulder blade or go very deep to feel comfortable. I hate how it feels even when my form is good. Ive gotten injured too many times with that lift to appreciate its benefits. Front squats I tend to let my knees travel forward and I also never feel like the squatting motion is "right", as vague as that sounds.
The way I do zerchers is a little different than mainstream advice. I always start from a dead stop. I set the rack height such that the bar rests in the middle of my quad when standing up. When I grad the bar I don't hold my arms out like I am trying to give a tall guy an upper cut to the balls. Instead I "pull" the bar towards me as if I am giving myself the heimlich maneuver which takes most of the arm strength out of the equation. At this point I need to work in the 300s range for reps and it is really hurting my forearm tissue and bone.
You are right that it will probably compromise some upper back work, but Im not concerned with that as I do stones as my main movement on squat days. I stopped doing zerchers because stones+zerchers is too much on the biceps.