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That's not useless at all... most of the best traps in the meta activate in tha battle phase, namely before the damage step. If you use this, it ends the chain, causing you to proceed to the damage step, where those traps can't be activated again until afterward. It's great for otk decks that don't wanna get stopped by drowning or wod. Highly underrated card
Except it's ONLY useful against cards that respond directly to Summons or attacks. So barring Floodgate Trap Hole, Trap Jammer will always be significantly better than Malfunction. (Especially since Trap Jammer's effective against cards like Mirror Wall or Spikeshield that don't need to be used in response to an attack, whereas Malfunction does nothing to them.)