If you use GUI, I think it's ok to use waits in some cases, if you dont want to have it 100% perfect.
For example you just want to wait a short moment and then do action, so you just use wait 1 second for example.
And afterall you don't really care if it's 0.8 or 1.2 seconds, you just want it to be something like this.
Otherwise you would need to create a new trigger and put your actions there. (in GUI)
Also Wait - 0 seconds can be useful sometimes if you want to start a new thread.
Bad point of wait:
If someone is lagging online, the game pets paused, but the wait function is not. So it will continue counting.