I use goodreads as a librarian to find "similar" books for my patrons. I don't read a lot of cozy mysteries or romance so I use goodreads as a way to brush up on titles, find popular authors, and find lists that users have created. All in all, I think it is a great resource--better than fantastic fiction.
I use the database features and search, but I don't really get involved with any of the "social" aspects, other than to trade reading recommendations with people I already know IRL.
If I were an author, I would certainly invest the time to establish a profile and make sure all my books were properly entered. After that, the returns on invested energy are going to decline quickly.
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