A ballista puts out 4 × 1/3 × 7/2 =4,66 hits at 100pts, so 0,046 hits ppt.
An Ordinator, assuming he generates no value outside +1to hit for ballistae, generates 4 × 1/6 × 7/2 =2,22 hits per ballista he is buffing at 140 pts. That's 0,016 hits ppt AND ballista.
At three ballistae he thus adds 0,048 hits ppt, which is just a smidge more than an other ballista would get, while being way better at 4.
@bellfree: what i meant by generally more useful is that a) his rr1s can be used by all units, not only warmachines and b) his higher movement is straight superior. Also the Azyros is plain cheaper and can hold a lantern artefact for what that's worth. I see him as useful outside the circumstances you described, however ymmv.