Yea pretty much. It's the tool needed to measure the case length at the shoulder. Knowing the case length at the shoulder is kinda critical to verify how much you have actually set the shoulder back. There are a few others but they tend to be more expensive.
The set is not super expensive and can be used with different size cartridges as well.
Hornady Lock-N-Load Headspace Ga 5 Bushing Set Comparator
Alternatively you could turn the die down 1/16 or 1/32 at a time, size the case and try to chamber it, and repeat until it just chambered. But I like to know the actual measurements of everything. That way I can measure a case with the comparator and know whether it will chamber or not without actually taking the time to chamber it.