UGH, I tried to stay out of this one, but I can't help myself!
1) ADSB was NOT designed to be an active traffic AVOIDANCE system (i.e. NOT a TCAS substitute)
2) I have personally, on multiple occasions, observed MAJOR discrepancies between reported position and ACTUAL position of traffic (see number 1)
3) It is another tool in the toolbox. It is not, IMHO, a necessary tool, but can be useful as a strategic tool. I like getting the 'lay of the land' when approaching an airport and appreciate the 'big picture' it provides while in cruise.
4) No way I would use it for tactical use in a traffic pattern. It is NOT reliably accurate (see number 2). Doing so, again IMHO, would be providing a false sense of security. I want my head on a swivel looking OUTSIDE, not managing the distraction of 'head's down' time while in critical airspace like a busy traffic pattern. However, as others mentioned, having a second person monitoring the ADSB display is also useful.
5) Looking at factual accident data shows mid-airs are way down the list of fatal accident causes. I await some statistical proof that those numbers drop even further before entertaining that a cause/effect relationship has truly been established. Anecdotes and the absence of an accident in the last x years when mid-airs are so infrequent to begin with is not convincing.