I don't universally dislike the Throbber, if that's what it's really called.

I have incredibly negative memories of the Netflix one, on cheap TVs with poor WiFi, which had a percentage which meant nothing.

It's used a lot in Android apps and it stresses me out on occasion when I'm in a rush.

Chromium on Android seems to use it well enough when reloading a page.

Often it feels like a jagged interruption in the application and like something is broken or out of place.