It’s the idea of using another working computer to fix the computer that is not working, same thing. This paradigm will never change, though in Catalina you use finder to restore your “bricked” iPhone instead of iTunes.
Sounds right to me if you need to restore the OS to the device. Erase all content and settings will set the device back to where it was when you activated it but does not touch the OS that is currently on it. These days with my iPad Pro that’s the only reason I keep my laptop, for possible software failures though I haven’t had to resort to this in years. I also use my laptop as an additional backup device.