Actually this is a good magic against many bosses due to the hits frequency that ultimately result in relentless knock back and combining with focus leeching potion (don't remember its name), one could kill some bosses even with high arcane defense (the nameless god) without moving. although high focus is needed but should not be the problem the time it is needed. That is what I found when helplessly fighting the coveted in NG+.

Why does this cost only 1 gold?

This spell is meant as a setup to cast other spells/incantations with relative safety, like Dark Swarm which is quite slow. If it was dealing high damage, you probably wouldn't need anything else to beat the game. In my opinion, it's already bonkers.

Verry usfull to trick enemies with shields to turn araund

Literally elden stars
High requirements, same projectiles, same **** damage