Anyone who is involved in any sort of performance critical work looks at compiler output on a regular, if not daily basis.
Looking at the compiler output is a totally valid concept, but it's definitely a niche case.
It's arguably more important with Java than with the compiler output for something like C++, as C2 is much more unpredictable and dependent on runtime circumstances. You also want to be real certain that bounds and null checks are omitted as those come at a pretty big performance premium.