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Have you read this?
Yes, APEX Caching is not widely used because most of regions and pages will be dynamic.
However there are some static pages/regions that you can cache are..
* Log-in Page
* Static Regions like Menus, List Regions
You can also specify condition to tell APEX when it should use cache and when it should not. With this, you can also cache regions with dynamic content.
Also you can specify whether to cache per user or to use same cache for all users.