I think we can all agree that while the benefits of the yellow United luggage handle wrap, or lake thereof, are very much "YMMV", there is no harm in putting one on your bag.

While bags with yellow luggage handle wraps may not always come out first in baggage claim or when gate-checked, they probably won't come out last.

Some people like putting the Gray 1K tag on their backpack or laptop bag....even though there aren't any benefits associated with that. Maybe OP wants to feel like a 1K for a few moments when rolling their bag around through the airport!