A Serbian passport is certainly less radioactive than a passport from Dominica. Depending on personal circumstances, it could be very useful. But, this is all dependent on circumstances.
I have business interests in Serbia︀ and would appreciate a non-aligned but still strong passport that I can travel on to︁ certain regions with less scrutiny than a Western-aligned passport (not going to use it in︂ North America, EU, or UK). But then, I have a top tier passport and a︃ non-suspicious residence, so it would be less important for me for banking and travel.
You’ll note that there is enough uncertainty around the process versus the level of value that︄ I haven’t moved forward to pursue it, though.