In my experience, having clearer cpu metrics is more useful than any hypothetical latency benefits.
However, the hypothetical benefit would also depend on the cpu model; it made a little more sense when they introduced it than it does now. Back then, CPUs took a significant amount of time to change power states, so going to sleep and waking up for an event that comes shortly after could involve quite a bit of delay. Even if the processor didn't fully sleep, it may reduce the clock frequency, and not increase it until you've done a substantial amount of work.
With more recent processors, these delays are much smaller, and perhaps it would have made more sense to control the power states in another way, but there was some justification.
maybe it's beneficial to someone, but I don't think that should be the default.
either way, it doesn't change the picture painted by the TechEmpower benchmarks.