From a theoretical point of view, if you have brakes that work it is a complete waste of time.
As GF says, it was used on high speed fighters that had token brakes, so drag chutes and aerodynamic braking on very long runways brought them down to a speed where the brakes could stop them without overheating.
Idle reverse will give you very similar deceleration rates, so you stop just as quickly with no issues of tailstrike/directional control/pax comfort; and if you have carbon brakes then applying them moderately just after touchdown will stop you quicker for no greater cost than if you use them to make the turnoff at 20 knots.
So all in all, it is just as appropriate to transport aircraft as holding it in ground effect after liftoff to accelerate, and "run and break" joins - great fun for the pilot but of no benefit other than to his ego.
