It can in certain cases offer a little help.
Probably when put into the right hands. An astute person can probably make almost any methodology/ideology useful. I really like the book 'The Examined Life' which is by a psychoanalyst.
Conversely, I think no amount of psychological theory will of much use to a psychologist who lacks the gift of insight.
It has its merits but it seems to be only a piece of the cake.
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