The EIR is indeed a useful thing simply because it is an additional privilege which doesn't currently exist.
It will be useful to pilots who are currently "clever" VFR pilots and who know how to play the game and are flying suitable aircraft, but who cannot currently climb above weather because ATC will not allow them into CAS because the particular ATC unit (or country) refuses to operate ICAO airspace classification (VFR is OK in all airspace except Class A). In fact the EIR will allow access to Class A as well - just like the full IR.
I can see the objections to the EIR but really it is no different to the present ability to fly VFR above an overcast which is already allowed in nearly all of Europe.
My main gripe is the ban on flying a SID or a STAR.
Where is it? Nobody knows. Probably wrapped up in the same fate as the CBM IR.