It depends… it depends on the “conditioner” it depends on real world needs. I live in Colorado where lightning is very real, even in winter at times… (thunder snow) all of my gear is plugged into some sort of protected system. The big stuff a Shinyata Hydra AV and the rest into a Furman unit. Unlike @erik_squires I don’t particularly enjoy cooked electronics! ;-)
I’ve done direct wall to power box comparisons and find zero SQ difference between the two. In a perfect world I create a dedicated circuit with whole house protection. That is on the list of things to do this summer. Even then though, I’d probably still use the Shunyata just to have the backup.