Insurance trap?

Last session at my regular spot, I kept watching players hammer the insurance bet every time the dealer flipped an Ace. It got me thinking again about the long-term math on that move. I get the appeal in the moment - nobody wants to see their blackjack or big double-up squashed by a dealer’s ten, but all the stats I’ve seen call insurance a classic sucker bet. Unless someone’s been actually counting cards and honestly, nobody at my table was, you’re basically just betting for the dealer to have a blackjack at worse than even odds.

I tried to bring it up with a couple guys after a tough hand and got shrugged off. Maybe there’s something I’m missing, like some angle folks are using these days. Would love to hear what others have experienced when it comes to the insurance side of things. Is anyone actually making it work for them, or does it only seem tempting after a run of bad luck?