I don't think it's mandatory, but agree a useful feature. PC has the ability to enable or disable each individually, but outside of that YMMV. Some have a bypass, others a wet/dry, others nothing at all.
Also One of the things I find most irritating in SPLAT is that the new style of inserts (in the FX rack) make it almost impossible to tell whether the FX is activated or not. There's a weird mix of gray/blue/green which seems to change depending on whether it's in focus or not. Wish is was either faint gray for 'off', and something bright/solid for 'on'.