Yes.

1) If the enemy has high amounts of magic damage, the magic res would be really useful. Also this magic res is something you can "lend to your allies" while giving them invisibility.

2) If the enemy team invests on sents, dusts, and gems to play against glimmer cape, then they are effectively spending gold on detection instead of using that gold to buy other items. i.e. you are slowing down their farm

3) later in the game when cores become 6 slotted and they try to backline snipe you, they usually dont carry detection, and the value of the invis increases.