No, its utterly and completely useless. A lame attempt to find a credible stat that ties individual production to team winning, which would circumvent the argument "the stat that matters is wins!". Did Mark Kotsay WAR magically go up by one in the last 24 hours? Because I'm fairly certain he just won us one baseball game more than the phantom Replacement Player.
I'm not using this to defend Kotsay, who has not been good this season, this is purely an attack on stupid statistics that dont make any sense.