Cyberghost is an excellent VPN, i use it myself.. Now whether you need or want it depends on perspective..
Do you own a desktop or a laptop? If it is a laptop, do you take your laptop out of the house with you sometimes, and connect on public "hotspots" or other peoples networks you just do not trust much? If the answer to those questions is yes, then you may want to look into a "Virtual Private Network".. The middle part of the name being the most important. The VPN encrypts you in a tunnel from your machine to the internet, making it very hard for "eaves droppers" on public hotspots to snatch your data.. As far as spoofing your IP address, as Littlebits suggested, this can be very useful for websites that are currently not available to you in your country.
Personally, i spoof my IP when connecting to sites im just not familiar with, or do not trust.
Cyberghost now has in place a "Anti Fingerprinting system" which spoofs all the information that websites can read from your browser..
So, are VPN's useful, in my opinion, yes, very much so.