My main issue with this is signing in to apps that don’t use iCloud Keychain.Because you aren't bringing junk over onto the fresh install. I have noticed a reduction of many GBs of storage after a fresh install. I do them at least once a year on all of my Apple devices. Since all my stuff lives in the clouds I can do all my devices in an afternoon. Most recommend setting up a new device as such as well, not using a backup to avoid issues and slowdowns.