One advantage of the ladder test is that it will limit how much changing a lot of powder can have on your load. If you're smack dab in the middle of a wide "forgiveness window," the tiny variances in lot to lot won't make much difference.
I use ladder tests to compare powders - having a wide window vs. a narrow window is one consideration for me in powder selection.
I think one consideration that makes guys say that it doesn't tell them anything, or that it is repeatable is range. If you're shooting at a range where the difference between a couple tenths of a grain isn't enough spread to make a difference larger than your normal disparity in group size, then it doesn't seem to reveal much. With really high BC bullets, a little change in velocity doesn't mean much vertical drift, so I try to pick my range based on how much accuracy I expect against how much extra drop the slow loads will have.
Being stingey with powder is another way to cripple the test. If you shoot GROUPS of each charge, in the round robin style, such that you can see where the charge is grouping, rather than the individual bullet struck, it tells you more. If you're shooting 300-500yrd ladder tests where a group might be 2-5", it's really hard to tell if single shots of a charge really represent where that charge wants to fly. Say a 58.6grn charged shot would have been the high flyer out if its group of 3-5 shots, then your 60.1grn charge shot would have been the low faller out of a 3-5shot group, they might stack together and make you think you're in the window, when you aren't. I shoot groups, then mark the targets where each group would have centered, then use THOSE marks as my guide posts for picking a charge weight.