Any situation where you find yourself toggling the display of one or more panels is a prime candidate for a MultiView control. A more templated wizard control, or master / detail forms for example.
I agree that they are open for abuse and you should evaluate whether you're better off separating your code into separate pages before using them. I've worked on projects where the previous developer has tried to put too much onto a single page using MultiViews and they are sheer hell to work with.
One thing to be wary of with MultiViews is that unlike panels, any declarative datasource controls contained inside them will always bind, even when the view they are contained in is not active / visible.