I think it is mostly "a solution in search of a problem".

When you really (need to) worry that someone in between you and the network at large is carefully modifying all time replies in such a way that your local clock would be considerably off time without you detecting it (e.g. because it makes a too rapid change), it is probably better to get a reference clock in a part of the network that you can trust.  E.g. local or via a VPN.

Have there been observed cases of people actually becoming victim to such a MITM attack and it being successful without the NTP client detecting that something is wrong?

There are more urgent issues in the NTP protocol (especially for non-cooperating users and servers like in the NTP pool) to be solved.  E.g. a reliable mechanism for servers to tell clients to go away and find another server, or to send them an administrative message that
actually will reach an operator.

Furthermore, it is flawed to trust some information "just because it is signed using a certificate" especially when the owner of that certificate has not been carefully validated.  Why would you trust me to send you correct time?  The certificate does not guarantee that the contacted server actually serves correct time.  So what does it bring?  It is like using a website certificate to trust a webshop (in the sense that they will ship you the goods when you sent them the money). Especially in a volunteer server network like the NTP Pool, what value does it have to distribute
trust in the pool members when you cannot tell who they even are?
(note that it is trivial to send correct time to all users except the victim so the monitoring system
would not know you are doing this)

Not a very useful thing to spend time and effort on, IMHO.

Rob
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