The introduction of gunpowder and the invention of the cannon ensured the demise of the trebuchet. The trebuchet specifically is a mid-late medieval siege weapon that improved upon the catapult, which it’s origins as far back as ancient times.

As for their effectiveness, they were easily constructed on site as long as there was a source of wood (the stones were what was needed to be brought with, Richard the Lionheart famously transported several hundred with him on the Third Crusade, some found in a shipwreck off the coast of Lebanon). Also, they were relatively accurate.

As a siege weapon it’s uses were twofold, bartering down walls, towers and strongpoints, and also firing over the walls to disrupt life and troop movements inside the settlement. At this it was also quite effective.

By “living up to its name” though you have to keep in mind that, although it pales in comparison to modern weapons, in its day it was state of the art and greatly feared.