I bought this as part of a project to add the wireless device to my Di2 setup. It's one of those things that you might be able to do without, but it's so cheap that I decided it was worth it to avoid damage to my cables. It works as advertised and I had zero anxiety regarding unplugging cables, or plugging them back in.
The Shimano TL Ew02, is good for removing the wire plug from a component (derailleur, junction box, shifter, battery, etc). Used in assembly of the system, this tool assists to wire plug connection without yanking on the wire. The investment is worth it, as the wires are not cheap!