When it solves your problem. I don’t think it makes sense to globally qualify a model as “good enough” any more than it does with programming languages. Python is good enough for a web app, but not for an OS kernel.

To your point, I think we’re past the hump on the Pareto distribution. The models are good enough for most things, and the rate they’re improving at the things they’re bad at is dropping. The odds a new model is good at something the old one was bad it is okay, the odds it’s something you care about is dropping. It makes a lot of sense to discriminate on price rather than features in that environment.