VXX and the term structure of VIX

There are a lot of discussions about VXX and the usefulness of this ETN. The biggest criticism is coming from the fact that it loses value over time. As most people realized the VIX term structure is upward sloping under normal conditions.

If you look at the median VIX term structure since 1992, you can clearly see that over the long run the VIX futures are in contango:

Are there any uses for the VXX?

For example you can use VXX to delta hedge your short VIX call options position. If you short the first and second month VIX call options VXX can be a usefull tool to delta hedge your portfolio.

Let me know your thoughts.