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I've done it on occasion. Mostly to finish the last 1 or 2 levels while I still have extra turn time left.
I wouldn't make a habit of it. Unless you have an ARC and are drowning in medals, then who cares, right?
When you have hundreds of thousands of the damn things, a few medals for extra attempts is no biggie....Once the Arc comes into your life that's a worry of the past...
I do it all the time. Sometimes I want to get further one day so I can slack the next, other times I'll still have time left on a Tavern boost that I want to use (like extra nego). Even when I still needed Medals for Expansions I'd buy 'em. They aren't that expensive.
Pre-level 80 Arc, medals were an item to be budgeted and spent like any other commodity. As others have mentioned there are lots of reasons to spend the medals for extra turns. Now I spend them freely to do GE when its convenient for me.
I do it often, usually after a failed negotiation or if there's a DC or event quest where I need to do a lot of GE at once. The medal costs are dirt cheap, so there's not much reason not to spend.
All the time, since there is nothing to spend them on. I've got enough now to get all the expansions through Space Age: Andromeda, and still not have to worry about spending them on GE.
I finish all 64 GE encounters in one day each week. With 43 million medals in inventory why not. I do a lot of 1.9 donating and average around 1 million medals a week.