Not really, it is as unhealthy for your personal integrity as waste water is for your physical well-being. Both can be made palatable by filtering, neither of them should be used without treatment.
"Unusable for the privacy-aware" does the job
"unpalatable for the privacy-aware"
Privacy issues aside, it has a noticeable effect on battery life.
Not to mention performance and usability.
I never bothered with uMatrix until I picked up a cheap computer to use while traveling. Firefox was borderline unusable without it.
Firefox on one of my older/slower computers was borderline unusable on some sites before I installed uMatrix.