"At this moment of time" a phrase, I admit, and one that annoyed my English teacher who said, and I tend still to agree with her, "What you mean is "now"."
However, I happily use "at the present moment" and don't feel that "now" expresses quite the same
I think some new words and phrases fill a void in the language. "Weekend" was new around 1914, you know.
How would we manage without it?
But other innovations are superflous because there already is a word that says the same thing.
Iif we don't need them, they will fall out of use again.