As a other premium user, trust me that is not the main reason I use it, it’s entirely to get rid of ads on mobile. I use the feature occasionally on mobile too but on desktop I use sponsorblock and it’s wayyy better both from an accuracy and user interface standpoint.
Sidenote: I also am on a plan that my parents pay for, though I used to pay for it myself after getting it for free for 6 months and I couldn’t go back to the ads