Is this worth the hassle?

Sure it's the most valuable skull, but also by FAR the most annoying. To fully make use of this for a Eight Spines Ribcage, you'd need two accounts to bounce the skulls between, 3200 Inklings of Identity per Ribcage, and either regular draws of A Public Lecture or waiting 3 weeks to finish each Ribcage (since you can only add 2 skulls a week w/o A Public Lecture) and then another week before you can sell the finished Ribcage to advanced buyers. And of course it's only available during Feast of the Rose.