I think you may have a misconception here; Base64 is not necessarily used to protect information. It has the advantage that it can convert mostly any type of byte encoding into a human-readable ASCII stream. This is extremely useful for sending, say, via email, like with an attachment or image in the email.
There's many cases where it's just used to mask information, but not necessarily protect it. For instance, if you view the source of, say, smore.com when logged in, you've got a whole bunch of hidden inputs that their servers use for stuff. They are encoded in Base64. One time I decoded some of this information. None of it was really bad - I mean, I was already logged in anyway. But it was just hidden so that others looking at your screen couldn't see it. I think there was also some special byte sequences in those, which may not be too friendly for POST requests.
So yes, I'd say it's useful as a low-level encoding used to convert byte streams into ASCII, and mask data from visibility, but not decoding.