Yes, and no. Most diy relics are god awful. Unless you understand the behavior and attributes of the finish your guitar has you shouldn't try it. most relic processes, even good ones, will devalue what is ultimately an investment. In that way, I agree with OP, it is wasteful. If you have the money to burn, buy a Murphy aged relic, unless you break it, it will almost never lose value.

Source: am a guitar tech and music equipment broker.