You’re absolutely correct.
While in playing games against myself which are lower stakes I sometimes try it, when it comes to actual, serious games against other players I stay well away from it.
It’s mostly if you just want to spice the game up and you don’t care about winning or losing.
That being said the technology does give you great advantages depending in the power and technology.
Super Subs+Improved Shipyards almost guarantees US or Japanese (depending on who got both of them) dominance in the Pacific.
Of course getting those two technologies is not easy, but it’s not impossible.