Yup, precisely what I use it for, (though I have also actually started using a scraper too).
I tend now (after 15 kins the other day) to have it in my corded / mains electric drill, which gives better stability for the user & end result for the pumpkin.
I used to have the odd pumpkin gut fly, but it's merely a bit of practise & thus product familiarity...
I'm using a scraping tool merely to cut & instantly lft / remove the main core of guts up & out before geting in with the gutter drill creaming up the remainder (no strings) & thinning my front walls as requireed & smoothing out everywhere else, drop the drill (onto it's 2 hand support arm) whip in the scraper tool & remove the rest of the guts, i've ceased the tip & bash technique as it's slower & involves clearing out debris anyway, overall just as fast & slightly less strenuous over the course of a days gut, stencil, carve process... (mostly done bent double it seems on the floor cross-legged).
just my refined process... I can see why stoney likes a scraper / thinner when you are ploughing through for a deadline..
so i'm now 50 / 50 but wouldn't be without it.. or my latex gloves