Its kind of a stupid statistic.. I play a lot of crucible so I dont get much grimoire. This makes me look like a 'srub' when I go to play in raids. I've had people give me a hard time about playing in their fireteam because my grimoire stat is low.. Just because I dont go out of my way to grind for a silly number under my name doesn't mean I'm not a good player..
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I never mention it, but do silently use it as a gauge of a player's experience. I know it's imperfect and can be misleading, but it gives a rough idea. For example, most people that I've done LFGed raids with that have <2000 or just barely over have generally been the bad runs that I sometimes end up having to just leave because they can't finish.