If the writers will it, sure. Area-wide power-dampening technology already exists, so it's perfectly within the realm of possibility. Plus it's made by Reed, who has made things like time machines and portals to other worlds - if anyone could make a tool that powerful, it'd be him.
Or Sentinels just blow people up without worrying who's human. I'm sure a lot of people using Sentinels wouldn't be too upset if a few humans died to wipe out the vast majority of mutants, and Nimrod and Karima don't care about humans at all.
It has uses, but it could easily be used for bad in the wrong hands. And pretty much everyone, including other mutants, could abuse it. But if the device had to be used, it should be in the hands of mutants. It should be theirs to use as they see fit, and not be in the hands of someone who could potentially use it against them.