Worst loadout in the game? It works fine for piracy - you have more energy to work with as novas take up less energy, you can hit traders from a larger distance (away from a defended transport), hit fleeing traders easier (especially those without CMs), take out trade lanes at a longer distance than the supernova, destroy equipment so the trader is less willing to dock with bases, so on. Sure it may not be as instantly-fast as the supernova, but most trade ships won't be able to effectively escape an aimed nova torpedo.
Supernova / Nova works good as well for group anti cap combat (after all, taking down battleships is a team effort). Supernova for shields and gunboats, nova for unshielded big capital ships. Every bomber in an anti-cap group does not need TCDs.