Well, yes and no.
Measuring the room and feeding that back into digital algorithms to correct for problems with the room can help, but so can fixing the room itself.
Room correction is like saying, well, we really blew it when we built this concert hall, so we'll have the singers wear special microphones (or pillows on their chests, or felt in their noses) that munge the signal to compensate for our initial screwups.
Better to build the concert hall correctly in the first place. Or, failing that, to at least try to address the problems with the building before anything else.
And what if the room has treatments and an improvement is heard from those algorithms, sophisticated very powerful processors these days are starting to get very good at convincing me (us) the reproduced sound is unaltered by DSP I for one believe the Sleeper has Awakened indeed and we all are in a New Golden Age of Audio, now only if we can bring peace to the loudness war all will be good .
Do I hear anyone seconding the motion to impose sanctions!