Yep. On its own, this card is actually not that good, what makes people use it is its material combined with Neos Fusion, allowing people to easily set-up their graveyard. This card would still be used for that purpose, even if this card has no effect.
Exactly, just like Gem Knight Zirconia: Monster is just a big beater, but the ease of summoning it along with graveyard setup in the process makes it very worth making