Personally, I'd say no; I think it's much more worthwhile to use moves with more coverage, like Wild Charge and Close Combat (and Extremespeed which gives it a priority move). Outrage leaves you confused afterwards, and if your opponent has enough bulk, Protect and/ or a recovery method, you'd have wasted your time.
If you wanted coverage against dragon types, I would put an ice move on a water type Pokemon (since that covers its grass weakness too).
I think the usage of Outrage on Arcanine is probably to catch your opponent off guard; it's unexpected, and it could probably 2HKO most Dragons. It'd depend on the rest of your team, but I would use a wider coverage move instead of Outrage.