You should always install all updates when suggested. Updates include fixes for security vulnerabilities and improve performance, including battery life.

Yes.

Why wouldn't it be "worth it"...? It's not like we have to do much besides putting in our password and click a button.

Not much, most likely security patches. Update to 16.7.2 but not 17 because it still has some bugs.

Yes

People pay extra for the extended software support Apple provides for their devices and you're asking if it is worth it to apply a free software update that might provide new features, better stability, or maybe both and then some?

Definitely update to 16.7.2. It is sensible to update with point releases rapidly. Changes will be small, but importantly will include security improvements.

You should also consider upgrading to iOS 17 if available for your phone.

ngl it's kinda nuts that in 2023 there's still people out there who don't understand the benefits of software updates, or worse still, think that there are any downsides to doing them...

Why not?

Okay am not updating