I'd disagree with OP, humiliation wargoal has its uses.
It's cheap and fast way for small countries to get some prestige at the beginning of the game to help them to start. It's good way to push back a bit your main rivals as a GP.
Since it's cheap in infamy, only 3, and very fast to produce unlike other CBs, you could often produce it infamy free at all or for very little infamy. It could be used as workaround to get at war with countries you have truce at the moment buy making humiliate CB against their allies. As mentioned above it could be used to get at war with country you want some region from but for some reason you need to strike right at the moment. So you can make humiliate wargoal and then add acquiring state wargoal during the war itself.
No offence here but it would be rather silly to expect one of the most resilient GPs to cripple just because of one humiliation war. In my recent game Austria lost 5 wars in row, got reducing to 5m populace from 10m starting because they were forces to release Bohemia-Moravia, Romania and Lombardia. Their territory was heavily occupied for 5-6 years in total and they can barely field 30 brigades now. And they still a GP, yes. They might drop soon enough but by 1900 they are still a GP even through all they've suffered. So basically if you are planning on seriously beating one of GPs out of their status you might as well consider spending almost half of the game for it and tons of infamy too. If you want faster results there are cutting down to size and that awesome new liberate country wargoals. Liberating Ukraine from Russia or India from Great Britain for example hurts them very seriously even if it costs 11 infamy.