For 1+card in Protection, you can prevent 3 damage: Side Step and Subdue will work on any attack. How often is Height Advantage going to prevent 3 damage? Not very.
Honestly, it's not going to prevent 2 damage consistently, and if that's your bar, you can get that with upsides via Jump Flip, Preemptive Strike, Desperate Defense, Never Back Down...heck, even First Aid does basically the same thing.
Aside from the Ultron scenario, the one thing this card has going for it is that you play it the hand before you're expecting to get hit. That's not a terribly big upside, but it can be relevant if, say, you didn't get attacked last turn due to a Stun or being in Alter Ego - you wouldn't have been able to play a Side Step but now you can play a Height Advantage for the next attack. I'd still rather put cards in my deck that are more impactful, more often.