It may not ez wipe anything on the map like before but it usually causes heavy enough damage to light vehicles or infantry to make the retreat or kill them. Rarely wipes them out, but the damage isn't nothing. Best used during a combined assault, not by itself.
The problem is that it is hugely overpriced for what it does. You have the JU87 which for just 20 ammo more can take out freaking KV-2s, wreck full health AT guns or cause significant damage and suppression to infantry in a single strafe. The P47 pure antitank strafe causes more infantry casualties than the IL-2 for christs sake. The pinplane is just as damaging as the IL-2, is cheaper and causes way more suppression.
The IL-2 strafe can stay as it is, but it's price needs to drop a lot to justify the poor performance of the ability compared to other strafes.