Not as much as it confirms that there are no codes.
Do you really look at the dash lights at key on, before engine start? If the low oil pressure light wasn't working how long would you take to notice it? ABS light? SRS (air bag) light?
A number of used cars have been sold with the CEL bulb removed, making it not immediately obvious that there is a problem, so the regulars have learned to ask the question - asking if the CEL is on, does not necessarily get you an accurate answer, but asking if it's on before the engine is started leads to the discovery that the bulb is missing.