Cmd-` is pretty inelegant. It disturbs your workspace, bringing all the windows you cycle through to the foreground and leaving them there. You have to play spot-the-difference looking for which window just popped up, then evaluate whether it's the one you want.

Other desktop environments put the window switcher in the center of the screen (so your eyes can unthinkingly jump straight to it), you can quickly tell "hit <tab> four times to get the window I want", and your workspace wasn't disturbed with other windows you aren't interested in.