It's a good tool if you want to rank people, it's a bad tool if you want to help people. IQ tests couldn't (and can't) even detect dyslexia, a specific disability which you can get help with, which was known even in Terman's time. IQ tests by design throw out all information which could complicate ranking people. If your goal is to help, why would you measure people with a tool which can't tell the difference between dyslexia and concussion?

IQ tests have been revised several times to address things like that, like that they "unfairly" penalize dyslexia, or that they had lots of questions which were easier for people of specific social backgrounds. Every time they were, they naturally became less "predictive", since both dyslexia and not belonging to the California white upper middle class give you pretty obvious disadvantages in life outcomes.

So don't waste time on IQ, and don't waste time on other academic culture war BS either.