It did for me. I used it as a bridge to extend the WiFi signal at first but then I did some testing and the ASUS gave me a little speed bump and the signal was more reliable overall. Nothing crazy, maybe 10-15mpps. But what did impress me was that it was much faster at the edges of the signal than the AirPort and the signal went further. Much more stable. It might have been that my old AirPort was just old and ready to be replaced. But getting the one from TMO saved me from having to purchase a new one! I'm very happy with it.
This doesn't change anything about your battery drain if you are only getting one or 2 LTE bars though.

But at least you know when you're at home, you can flip it to airplane mode w/ WiFi and it'll work great and THAT can save your battery quite a bit.
And to be clear, as someone pointed out earlier,
there are 2 kinds of CellSpots - LTE and WiFi. I have the WiFi CellSpot not the LTE cellspot.