For my part...no. I would consider that a boring "pass" spell. I'd rather have shield, and even failing that, I'd probably rather have something more fun. Disadvantage on a single attack roll just isn't enough of a defense to be worth a spell slot and your reaction. The one thing this hypothetical spell has that makes it even remotely not just a cantrip is that it works on attacks not directed at you. And it still is a weak 1st level spell, in my opinion.