Yes. It is really important for life skills.
Step-by-step explanation:
If you study the profiles of most successful candidates of anything you would find that they were involved in mutuality activities that would at cursory glance seem very different from what they end up doing in life later.
This is not because of any tangible career benefit however that is also usually a byproduct of such activities
. It is for the development of soft skills and in general the skill of time management and development of personality that these activities are valuable for.