Essential? no.
Worth it? maybe.
Nice to have control of your own device? absolutely.
I have two devices, primary with root (through Magisk as KernelSU still has some issues for me) and secondary without root. Anytime I have to do something more demanding on the unrooted device I really wish I had root. Local terminal access, ability to disable some annoying “features” (verified app links) and multiple other things I use daily make it worth it for me.
EDIT: I saw mentions of custom roms in other comments. I have a custom rom installed (AOSP based). If I was on a stock rom (or god forbid something like MIUI) root would be a must for me.
Oh, so we’re playin Inception at a whole world scale. Nice.