I don’t like it. It’s yet another layer of apps that you have keep organised in order to use it effectively. But it’s just as limited and clunky as the iOS home screen. I tried to arrange everything across several pages and it took me far too long, because you can only drag one app at a time and I often created folders by mistake. At some point my Launchpad reset itself and I couldn’t be bothered with it anymore. Sometimes it also adds applications to it that don’t need to be launched, like uninstallers, with no way of hiding them.
There were some attempts by third-party developers to bring some organisational tools, but last I’ve heard, Apple made it increasingly difficult for them to do so. That was enough for me.