I have had time to reflect upon the app and have not substantially altered my original opinion. It very much depends on circumstance and application.
Since the relaxation of Tasmanian mandatory detention for residents, I have been able to travel inter-state again; albeit at the price of quarantining when I return home. I have no problem with this. My personal assessment of the risk is that it is negligible but others may feel differently and I'm happy to respect their concerns.
With regard to the app, I have been considering it as I travelled. Realistically, excepting flights, there were no circumstances where I was in close proximity to a stranger for fifteen minutes. There were brief encounters, such as checking into a hotel, collecting a hire car, paying for fuel etc, etc. There were also work related contacts which were documented.
Looking back on my last trip, I would be able to give sufficient information to quickly identify everyone I came close to. Petrol station cashier, I couldn't give name and phone number but I could certainly give time and date. Only gap would be queuing for coffee in Mildura. More than 1.5 m and only about five minutes, but I was in proximity to unidentifiable strangers.
Had I been carrying the app and were subsequently tested positive, the only people who would have ticked the signal strength V time box, would have been those I met for work and possibly not all of those. My memory and travel receipts would have provided every other encounter. Obviously the app would be great if I was involved in a protest, or any other circumstance that threw me into prolonged contact with strangers. Little point for a solitary traveller, who was merrily avoiding company long before COVID!