I like the idea. Personally I didn't like the implementation that much when I last tried it two years ago, it just was not that smooth to use for me... But the system is good!
For Chinese I much prefer Pleco, easy to switch between showing characters or pinyin, with or without sound... And easy to look up any word and all the components of characters. It costs a little money though, and it's only for Chinese.
Most of these requirements (switching to pinyin, looking up components) don't exist for many languages, so I imagine Anki is much more usable for those than it was for me.