very much so, so part of the thing that makes a good photographer is to know what the camera is doing and when to over ride it. Of course you can understand and think the camera has the correct settings but it still requires something that the camera can never do, compose correctly.By making sure they over ride what the camera thinks the exposure should be and steer it towards the correct or optimal exposure, which may or may not be the same thing. Fortunately, exposure isn't just a technical decision, the shutter release person, with sufficient skill, can always add value, even if its only to check the camera has got it right.
Seems like theres been some really great input into the original question.