That is worth it if you have no other means of solving that monetary problem you're facing.
You'll get the money and your bitcoin holding is there but you'll need to be responsible if you choose to do it.
Just see it as someone has a land, but the person need money. The person may prefer not to sell the land just to avoid paying tax for the land sold and because he believes the land price in the next few years would have increased very well. These are the two main reasons someone can decide not to sell his asset or property, but borrow money instead.
The difference of it in land is that it takes time to sell it, but banks would also take it as a collateral.
So if you're in a hurry and that situation is important, you're not going to wait for those years of appreciation for its value.
You'll do any means of taking care that financial problem you're facing through borrowing against your assets.
If you mean borrowing, say, stablecoins against BTC on a centralised exchange - this is a very common practice. You can then withdraw the stablecoins or sell them for cash and do whatever you want with that money, your loan will be overcollateralised with your BTC and you can repay it later when you want to (just need to keep an eye on the loan health - the liquidation price that will go slowly up as the interest rate being paid from it).
He also need to take note that it's better if he'll not get the highest loanable amount for his bitcoin due to that.
Less than half is acceptable in my opinion or even lower so he will not be too pressured for the liquidation and interest.
