I had a 2000 Launch DD that had an adjustable trim tab. That looks non-factory, did you add that?
Anyways, regarding your question...my trim tab motor locked up and stopped working about 2 years ago. Ironically, it was stuck directly flat (50% on the gauge) so exactly how yours is. Before that, I did use it to shape my wake for wakeboarding and surfing. However, after not having it for 2 seasons, I could've cared less and never saw a need to change it. At perfectly flat, the boat still had a great wakeboard wake and surf wake, so I just never bothered to fix it. It also added some anti-cavitation effects when tubing or skiing or whatever, so it was nice to have just that little bit of hull extension.
However, now on my LSV, I use the wakeplate adjustment all the time. I surf with it all the way up because I like a steep wake, and some other people I ride with I lower it some to give them not quite that steepness. It significantly changes the wake for surfing. For wakeboarding, I like mine about 75% up so a relatively steep wake. You can watch the wake change as you move the plate, and it's surprisingly drastic. I also noticed that the V-drive boat is much more prone to cavitation than my DD ever was, so I also use it when going fast (skiing, tubing, or just driving around) to eliminate that cavitation. I did not notice as drastic of a change in the wake on my Supra Launch DD, and my DD also did not ever cavitate with it perfectly flat.
In my opinion, it's useful but not necessary. On your boat, same as my Launch, I don't think it will be as useful as it would be on a v-drive. If it's a project you want to take on that won't cost you a whole lot of money, it would be worth it. If it seems too expensive to you and you're hesitant due to that, I wouldn't do it.
I think if you are going to take on a project, it would be interesting to add two trim tabs spaced apart. I can see that beneficial in creating an artificial list to your boat to help the surf wake, and also you can easily adjust the list to even out the wakeboarding wake. I've actually wondered why no manufacturer is doing this on wake boats (off shore boats have that setup), but I would have to assume they tested it at some point and it doesn't work well so they don't do it. Maybe somebody more involved with the industry would be able to comment on that.
Boats previously owned - 2000 Supra Launch, 2003 Outback, 2006 Mobius LSV