So does this mean I wasted my money, or that I am less worthy of a well tuned bicycle because I find the tool helpful?

It is useful for me because I have trouble keeping the proper tension on the cable and brakes/derailleurs while installing cable. Not essential, but I have found mine quite "handy".

I always tend to either attach my cable too tight or too loose, but with the 4th hand tool, it is easy to find that in between tension that works just right. My fingers are rather sausage like, and I have always had trouble with certain mechanical items on cars or bikes, cables being one of them... your mileage may vary...

With that said, it is not necessarily easy to get a grip on the cable to use it in all ciecomstances, so it sometimes still takes a little persistence.