I agree, Cholula hot sauce is much better than Sriracha. I used to love Sriracha about 5 or 6 years ago or so.. would drench certain pastas and such in it. It's still not bad, and is pretty hot in larger quantities, but is very "meh" for flavor. In fact, on a lot of foods, Sriracha takes away from the natural food flavors in substitution for mobbing it with its own bland flavor, for the price of adding spice. I love spicy food/hot sauce, but being spicy alone isn't good enough. If it's going to have a shitty or bland taste, then the spice isn't worth it. I'll still put Sriracha on some things on occasion, but it isn't anywhere near being the best condiment in general.
Anything and everything that could take spice. I agree that it's a strong flavor and use it sparingly. I've put it on burgers, fried chicken, fish, roasted veggies...you get the idea. This is a yummy recipe for Sriracha turkey meatballs: