Sure, this is a way to get better at learning songs, in particular. Any consistent practice will result in getting better, though. After about 20 years of playing (though less as the years have gone by and life has been busy), I actually find playing live to be the most impactful thing. You have to find a way to make the song work and keep up with the tempo! Often that means improvising. Being able to improvise even a little covers so much that can go wrong while playing.

But there are lots of ways to get better, and to a degree it depends on what your goals are. I enjoyed the article.