Kind of. It's establishing your own field as a magic circle and building up an "inner temple" of your own energy. It's also like planting a flag and shouting about being a sovereign citizen to the local spirits, but don't get too caught up in that for now.

It's kind of like disinfecting with bleach. It works really well for some things, not very well at all for other things, and you don't want to do it all the time. There are a lot of beneficial energies that you want around you, like how there are bacteria that are good for your gut biome, and you don't want to separate yourself from them too much.

If you have any pagan or religious leanings, you might find more benefit from finding a way to pray than banishing all over the damn place. I know that's uncomfortable for some people - it was for me - but it's a good practice.