AppleCare is insurance. There's a bit of a wrinkle in that it's insurance from a company who can do the repairs as well, but at the end of the day, it's insurance.
At work, we looked across the body of devices we had and tracked the AppleCare incidents (times when insurance "paid off") and concluded that it wasn't worth buying across the fleet. (This is aligned with the general principle of "don't insure against losses you can afford".)
If you can't reasonably afford the loss, insurance can make sense and you should consider AppleCare. If you can (or if you can self-insure across a large install base), you probably shouldn't.
At work, we looked across the body of devices we had and tracked the AppleCare incidents (times when insurance "paid off") and concluded that it wasn't worth buying across the fleet. (This is aligned with the general principle of "don't insure against losses you can afford".)
If you can't reasonably afford the loss, insurance can make sense and you should consider AppleCare. If you can (or if you can self-insure across a large install base), you probably shouldn't.