Yes? You can have it at any time without it too though, but you could leave for example some oats and milk in the cooker while you dress yourself for the morning, and when you're ready so is your gruel. (I did this once or twice when I had a rice cooker. It was okay.)
You can make ridiculous, impractical, cartoon sized pancakes. Google "rice cooker pancake" and it will have you searching for rice cookers to buy immediately!
I have used a cheapass no-controls except 'on' rice cooker to make a ton of meat and veggie dishes. All in one pot if you are cramped for space or tools.
Rice on bottom, then veggies, then a chicken breast on top. Season, turn on, forget, come back and eat when it pops.
The veggies end up a little overdone but using frozen veggies screws with the rice, so I just deal.
Minus the spring you can accomplish the same thing with a thin bottomed stainless steel pot on the stove. I never liked the non-stick part of rice cookers.
I disagree with rice cookers, just boil your rice like pasta and strain with mesh. Way less hassle, way less clean up, extremely predictable results - its what all the top-level chefs do and I myself learned this from my buddy, a former Michelin star chef turned comic store owner.
I completely disagree with having an additional gadget to do what you can do with standard kitchen equipment in a far superior way with just a little bit of care and skill.