There has been enough discussion about this and the videos available from PG and Techlore should conclusively answer this question.
To me the answer is quite simple and I no longer overthink and analyze about this. If it does what it needs to do and if you you need it (the two points you mentioned), then yes it is really needed. Plus, geo-unblocking and torrenting are other reasons to use a good VPN too.
Is it always needed? I would say yes even though a case can be made for not always needing it. But I don’t think it does more harm than good and only helps even if you always have it on so might as well use it if you’re buying it.
To answer your titular question more directly - it depends on what you’re trying to achieve and why. Seems like you know enough about VPNs to answer this yourself.