Incenjucar
Legend
1. Unlikely to be happening round after round1. Unless unable to use reactions
2. Unless counterspell
3. Unless shield rebalanced, so it isn't +5 AC in all situations
4. Unless other reactions are more important
Using shield is often a bad plan, because level 1 slots are so cheap already. It takes an average of 4 attack attempts for casting shield to be worthwhile. 4 level 1 slots last for 16 attacks, which could be a lot of rounds of combat.
I say that the real problem is that shield is an insanely good level 1 spell at high levels, not that you can cast it repeatedly.
2. Counterspell every single round against a 1st level spell is super unlikely
3. Sure
4. In which case nothing is lost because you did something better
At low levels, shield has a cost because it eats into your other options. At high levels, using a low-level spell is usually only for unique and interesting situations because most burn a whole action, but Shield does not. You can easily find yourself using Shield almost every round almost every encounter because it's basically free.