I have used it quite successfully, and what to reiterate what @sunkuwan said - it's not about selling books (use Bookapy for that), it's about a way for your fan base to support you. In my case, it's very early access to my ongoing and new stories, as well as additional content (e.g. images, side stories, 'cutting room floor' snippets, etc).
You need consistent output, such that your backers gain something for their patronage, and you need to provide consistent, quality work. To use a combination of SOL and Patreon, you have to be sure you honor the rules here. I was one of the first to use Patreon and confirmed how I would handle it with Lazeez before I began.
As for @Ernest_Bywater's comments about sexually graphic stories resulting in being banned, I haven't found that to be the case. At least in the US, text-based erotica which does not feature snuff or pre-pubescents is not considered obscene so long as it has some social or political value (it's a bit more complicated, but that's the gist of it).
Patreon have also stated quite clearly that they would not ban stories like Lolita or Game of Thrones. The people who have gotten into trouble generally either had images, which is a whole different ballpark (but generally, in the US, it's only real images which run the risk of child porn charges; some jurisdictions may say they are obscene, but that's a tough case for a prosecutor to make under the 1st Amendment).
The key is to ensure there is no public mention of the 'extreme' contents and to ensure your page is flagged 18+. And stick to written stories with political, social, philosophical, or historical content. It's worked for several of us.
BUT, and it bears repeating, posting to SOL to gain patrons means honoring the rules here, too. For me, that means posting all the books of my universe for free on SOL as each book is completed, though after it has been shared with my patrons.
YMMV.