One strength of Ellis' ABC model is its real-world application in the psychological treatment of depression:
Ellis' approach to cognitive therapy is called rational emotive behaviour therapy or REBT
REBT claims that by a therapist vigorously arguing with a depressed client they can alter the irrational beliefs
David et al offers some evidence to support this idea
Therefore, REBT has real-world value
Reactive and endogenous depression

One limitation of Ellis' ABC model of depression is that it only explains reactive depression and not endogenous depression:
Depression is often caused by life events or 'activating events' - this is called reactive depression
However, many cases of depression are not traceable to life events and it's not obvious what leads to depression in these cases - this is often called endogenous depression
Ellis' ABC model is less useful for explaining this type of depression
Therefore, Ellis' model offers an incomplete explanation into the causes depression