It varies by species, a lot. Also which one of the big three you want to use: IBA, IAA, NAA.. Liquid or powder can make all the difference too. All three have a better working on some plants, and a decreased effectivity in others. Some plants require slow release from powder, some plants prefer immediate penetration from the liquid stuff. 
Species wise, willows for instance don't need it at all, junipers neither, but most other plants can benefit from a one time application of rooting hormone.
But you're right, if the process is done right and the timing is too, usually the plant can root on its own. However, this is also largely size dependent; a bigger branch might require addition of hormones to root before it collapses on itself, a smaller branch usually doesn't. 
There are all kinds of root stimulators and enzymes out there that promise golden mountains but I've never seen reliable results. Nor have I seen plants treated with them, perform better than the ones without in terms of yield output (growth above the soil). 
In short, the answer is "Generally you don't need it, but there are plants out there that are notoriously difficult to root, or your timing might be off, in those cases rooting hormones are a great tool to have."