That's under the assumption you can draw your deck.
At the risk of sounding like Awaclus, if you're not drawing deck, is it really an engine, or just a BM-variant?
I guess this is relatively often the case for 2P games, but the more players, the more likely is it that Ghost Town will be just as good as Village in that respect. Which in turn gives the card's other abilities (never drawn dead, planning ahead to spike next turn) more room to shine.
I'm still not buying the "just as good as Village" or even "better than Village" arguments when it's granting half as many +actions, which is Village's primary benefit. (Also, I definitely whiffed on the Conspirator/Peddler comment. Right. Not an action. Night card. That's going to take some getting used to.)
I can definitely see the scenario you're describing, in which it's behaving a bit more like a Caravan or mini-Tactician, but at that point, it's non longer being used as an engine card and starts being a BM card, where you're oscillating between good/bad turns, spiking price points, and strategizing around an average coins/actions/points per turn. That's BM. And multiplayer games definitely fall into the BM category more often than 2P games, so that would fit your observation.
But again, even in a multi-player game, if Ghost Town is the only source of +Action, that's going to absolutely strangle the available terminal space and will restrict the way terminals are played far more than Villages would. Ghost Town might end up being the first Village variant that tilts some kingdoms away from engines and towards BM.