It’s good for some things. I reported on my experience with gpt-3.5-burbo-16k over 2 months ago.
I am working with a large collection of legal and regulatory documents. My vector store brings back excellent context on queries, but gpt-3.5-turbo-16k returns mediocre to bad results even with the best context. I use it for some minor things, but even then it’s iffy. I was trying to use it for categorization, but it does weird stuff like categorizing a query/response from a real estate dataset as “Real Estate Regulations”. Yeah, before someone responds, the prompt is rather specific. And, gpt-4 does the job beautifully.
I mean, come on!