No, it's useless. The only value is in its rarity and you can't even make jewelry out of latinum, since it's liquid at room temperature.
Also like as far as representation goes, almost all member-states keep their own naval forces except United Earth. Mixed crews still seem to be an experimental rarity rather than established fact. I'd save naming a class of ship in a non-human language for some important symbolic point when it is actually warranted rather than rush ahead now.
@Sayle
One question about the ships complement: How large is its expected crew?
YOU may not feel that joy. Some of us don't have that issue.There will not be that joy there was when individual Stingray class ships, such as the Munk's Pygmy were namedropped during the Romulan War.
The primary use of the Lirpa is in mating duels, specifically the Koon-ut-kal-if-fee.I feel like naming a ship for a Vulcan weapon might not actually be good representation given what the Vulcans value, which is definitely not warfare. This ship is made for war with almost no compromises; it's not the sort of ship a Vulcan would be proud of, I expect.