Does it?
Depends on the kid.
I rarely did any at home. I did mine during lunch in high school.
In college, I did it on my days off of work or if I had a gap between classes.
Taking it home doesn’t make it more “special”, nor did it give me some amazing insight. I suppose some people here love the concept of homework just because they get off seeing a kid getting tied down on something they hate doing because it “builds character” or something, even though the same people would be livid if their boss told them to take some of their work home every night and it would be considered off-the-cock.
But you still did the work. And if yo had done more, would you have gotten better? Because you did well and did not need much homework doesn’t mean others do not.
I read a text by a math instructor who discussed how if all you did was one basic problem over and over how ingrained the method for doing that problem would become. Eventually you would see other ways of doing the same problem. Finally, the world of numbers would begin to take on a different meaning for you that few ever know.
I have advance degrees in English lit and comp; this is certainly true of that field. Reading the same text over and over changes your perspective on that work as well as others. Eventually it changes your perspective of the world.