There's a timing for everything

The benefit is actually knowing where the camshaft is installed in the engine. Without degreeing, there is no way to know if the cam is retarded, straight up or advanced.

There is potentially lots of power to be had if the cam installs retarded from TDC, for example. Most cams are designed to be installed advanced from TDC. As such, if you have a cam that installs retarded with the dots lined up and do not degree it, you're leaving a lot of power on the table.