Wouldn't you need to actually trust BitGo though? If so, that's a big no for me dawg.
For now(as I haven't done ample research yet), though it's quite interesting, I think it's very pointless. The only possible use-case for WBTC that I could think of right now is for multi-collateral DAI on the MakerDAO platform; beyond that, I really don't know.
It's the only way so far to trade "Bitcoin" on a DEX. It allows you to trade Ethereum assets against tokenized BTC using smart contracts. Obviously, this isn't fully decentralized since it requires third party custody from Bitgo, but it offers a hybrid model that's less risky than trading on fully centralized exchanges like Binance.