FWIW, I have used Edelweiss as a bittering hop in a few batches. My understanding (as noted by others on this thread) is that you do get some flavor contribution on bittering additions, so it's not entirely wasted. My personal
philosophy is that at a homebrew scale, I can do what I want with bittering, because I'm not necessarily worried about cost savings. Sometimes I'll use high alpha Magnum for bittering in my German lagers/ales, but I do think you lose a bit of subtle qualities versus using a lower alpha hop for bittering (echoing what chumley said). Again, just my two cents.
shines in its late hop aroma/flavor characters, though. I get a gorgeous floral aroma with the blend, which is heavenly in many light German beers (pils, kolsch, etc.). I have a kolsch with it on tap right now, and it's exquisite.
Last year, I made a German-style pils last year using only Edelweiss, and it worked really well. Info here for anyone interested: https://andybrews.com/2022/03/01/winter-pils/
So, my personal opinion is that it's totally worth trying as a "SMaSH"-type beer...or I guess that would be "SMaSB" given that it's a blend.