Quite often, yes, it's a good exercise. Not knowing your cards forces you to pay more attention to bet sizes, patterns, opponents perceived hand strength. Sometimes knowing your own hand strength, or lack thereof, can be a psychological disadvantage and can lead to incorrect action. You might fold a hand even when your opponent hasn't shown any strength and might fold to a jamb, or you might call down with 2nd or 3rd pair thinking you have showdown value even when the villain is repping a stronger hand.
I don't recommend doing this as a rule but I do recommend trying it a few times at low stakes. It really forces you to play solid poker and gets you out of the ABC rut. When you feel comfortable with it you can then apply the same line to your normal game and start crushing.
A word of caution. Don't try this in early position or multi way pots, you need to get heads up. The best positions are BTN, SB, BB and CO.