Well. When I see a hunter fighting a wolf or something, I paralyze the hunter repeatedly just for lulz. It of course doesn't have much value to it. Nothing else can attack an npc/creature stunned by the staff, so it really doesn't have a point, no :laugh:
You can get the "hold" dialogue if you use it on a door or container. That's about as interesting as it gets.
(I guess if you're RPing, it could be used for "breaking up a fight?")