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A big AV11 vehicle that relies on some poorly-armoured infantry dancing a jig in the open for it to be able to kill anything, can't take any outriders to catch Krak, and is largely nerfed once it's lost some HPs to Bolters.

Is she a big fat waste of points waiting to feed your opponent VP's?

The idea, is that they are cheap enough, to take a ton.

One on her own? Na, she will die.

3x3 seeker chariot's, accompanied by one herald on an exalted chariot? Some of them are gonna get through, and she can get cover saves behind them.

They are quick enough to almost ensure a turn 2 assault. You will lose some, but those that get through, will tear people up.
That's the theory anyway.

Also, do note that despite being a vehicle, it get's an invulnerable save

Hmm, that's not going to work as an Allied formation :(

I got the model because it's awesome, now I'm trying to make it a viable part of my Word Bearers

Aah, well, you can give it the 2d6 shot whip for some shooting, and take a cavalcade of 3 as your allied heavy support if you wanted to do my idea. If not, then just throw something in front of it to give it some cover, or else give the enemy something else to shoot at.

The thing is fragile, but it should be possible to have it survive till turn 2, which is all it needs to get into assault