It's great for large races so they can shrink down to better fit in small dungeons and areas (trolls, orges etc). I'd dare say it's a utility.
It's good for small races to get over some huge stairs, too. There are other items you can get for this purpose, it doesn't have to be this specific one.
Off the top of my head there's a quest you can do in Kelethin, farming Eldenals, for a Wood Elf Illusion clicky. It even gives you Infravision! So, Erudite specifically is currently off the table if you don't get it while you're able, but for utility purposes there are other choices.
In the Season I actually EXP'd a char in Cesspits, killing the Headmaster when I could. The mobs were going grey before I was done, it wasn't great exp/hr, but I got the head and all the Newport Bounty Tokens.
I can imagine it would be pretty frustrating if you're basically EXP locked waiting on the head, but it's really not that hard to get, and you should consider going there earlier so you have something to do in the mean time. If you don't have much time, set an alarm for yourself like oldschool EQ camps and multitask. Heck, tradeskill or fish on another box while you're waiting. Whatever char it is at that point can easily solo the Headmaster.
With a game that has hundreds of things to do in it for character progression, poop socking level 20 content (that's level capped) for days on end to get an item that is nowhere else in the game does not feel good for the new player experience.
I don't necessarily disagree but I think it does add flavor to have some chase items. I think a quest would be good for a similar item, but I don't think the existing item should necessarily be made more common/more accessible.
There's a weird mix of things like rare EXPable item drops and even Adepts for those who want to take their time and grab everything they can here. You could even argue the Headmaster is the easiest, most forgiving, Adept. TBH I'm surprised that anyone playing this server would have an issue with "poop socking" - especially such an easy camp.