It really helps. Plus it helps to remove any small particles, abrasives, and lint.
I forgot to add to this, for any future viewers.
If you do get the small particles, or little pressure witness lines pressed into your tool tapers.
you can take some Blue Magic metal polish put a small dab, and spin it in your hands a couple times with a paper towel, and it all goes away,
keeps tools clean.
Do it sparingly, and make sure you wash them with a solvent at least twice to make sure its off, I wouldn't want it in my spindle.
You could hit the spindle taper with it also, but make sure you dont get it up in the retention system and clean it out thoroughly with solvent,
WD40 or Alcohol, mineral spirits, I prefer alcohol. (WD40 is over 80% mineral spirits)
I haven't found anything that cleans tool tapers as well as this, and I'm a little OCD on clean tooling assemblies.
You could use this REGO FIX cleaner, time consuming.
And if your tooling looks like in the video I think you need a new line of work.