They save time (which equals money), but as far as what they're practice for... well, I think t&gs are practice for t&gs. For those times when you've touched down but have to abort due to an obstruction or just having landed long. Or those times when the wind is devilish, and you just don't feel good about the rollout.
But not for full-stops.
There's a lot that goes on as you roll out, stop, exit, clean up the plane, and taxi. It's not really a waste of time; taxiing is very hard to do consistently well.
Some folks seem to believe t&gs are adequate practice for full-stops, but I disagree... especially with tailwheel aircraft. :o
T&Gs can be a copout in the name of money... what's your safety and reputation worth, in terms of money? Mine has no price tag. I Usually do full-stops, even if I'm doing nothing but an hour of pattern work.
But the nice thing about most little taildraggers is that you can do three or so touch-n-gos on a good-sized runway and still do a full-stop at the end... now
that's a good workout.

While doing my tailwheel add-on out at Brown, the words "cleared for the option" from Tower meant it was "fun time"!!
For learning to understand ground-effect flight and dealing with drift, etc., I think the "dirty low pass" is a better idea... I got to do a few of those during my training, playing with rudder & aileron a bit while holding the plane just "out of flare" with power. It's an excellent exercise.
But I did plenty of t&gs at KTEB and KMMU to learn more about Class D ops without paying the landing fees... as long as a student also gets plenty of practice stopping, exiting and taxiing at a little nontowered airport, he or she will get a well-rounded education.