That's the one thing it's actually good at. But it is very good at that. If you're still at the level where you're using breadboards & through-hole parts for everything (i.e. before you learn to solder) it's a nice tool.
Once you learn to solder you can make PCBs and work with higher-speed components than breadboards can support, then you'll want something that's actually slightly decent for PCB design. Fritzing is about the same level of help as manually cutting out mylar tape, you want something with actual design rule checking.
