With their ability to capture larger animals and certain flying creatures within their mouth and hold them without draining stamina and even holding them without aggro, and their ability to not Agro any wild creature even when attacking it, they can prove to be an excellent PVE and possibly PVP mount. Note that they are quite difficult to get an even more difficult to breed. Otherwise the effort is well worth it as if you utilize it right it can serve as a very good mount.
These guys are a must-have in Aberration; they are always awake (at least in the bioluminescent area), and thus always have their night buff. Of course, this also means you must always be wary of wild ones while in their territory.
When out at night, be sure to take this with a raft or quetzal with platform, so when it is tired, you can get it back to base without it being attacked. Just a tip to ensure that your prized Megalosaurus doesn't die whilst you are out.