Depends on what you are trying to achieve. Just want plinking ammo or something that groups good to 100 yards and in, then no. Want extreame precision and to shoot longer range, then absolutely.
I reloaded for probably 10+ years before I bought one. Not only did it help me to see what my reloads were doing and to help troubleshoot issues, it really helped with load development and finding accuracy nodes. It is what lets me shoot those tiny little groups at those long ranges.
You can have tight groups at 100 yards with an extreame spread, but start shooting longer ranges without knowing that, and you may think you are just a bad shot when it is just a load your rifle doesn't like.
Using a chrono will speed up your reload development and will lower your cost of development as well.