I think it has some good value for that. By itself, I found I was just memorizing phrases without understanding the “why” of anything. Combined with Wanikani and TextFugu, FluentU makes a lot more sense and it gives me an “in practice” view of the language.
I also like watching NHK News On Demand (VPN set to Japan required here in the U.S.). There’s a lot of supporting text displayed on the screen for the news topic being discussed.