The vast majority of people I've seen try it just end up reducing their damage. It's definatly caused more harm than good.
I can't comment on that, as I've never seen anyone actually use it.
I'm just saying that
in theory it's used in the same situations in 5e that you would use it in 3e - when it's worth giving up a round of actions to give you a big bonus on your next attack. It's just that in 5e the bonus is smaller (advantage instead of +20), and that same bonus can be gained via other means in most cases. So in practice it's not nearly as useful as it used to be, even in the circumstances in which it is useful.
And there aren't many attack spells, with scorching being a multi-attack.
Not many, but there are a few.
Chromatic Orb, 1st level.
Guiding Light on the cleric list (i.e. a cleric with the Arcane Domain - gives two wizard cantrips, or a wizard with Magic Initiate - Cleric who took Guiding light as their first level spell, or a multi-class character.)
But it's not just spells. You could be low level and wanting to throw Alchemist Fire, Holy Water, or Acid flasks. Using True Strike would reduce your chances of wasting your money. (Admittedly a questionable tactic, as just casting Firebolt would give you much the same results in most cases.)
And there are still Arrows of Slaying in the game.
It's definitely a niche spell, but so is Blade Ward and I have a tank-warlock build that uses that cantrip to good effect at the lower levels of the game.
Maybe if it was a level 1 spell, bonus action, you gain advantage on your attacks this turn.
That wouldn't be bad, but probably abusable by Eldritch Knights and Bladelocks, just off the top of my head.