My own situation is that 28 of my 32 gt-gt-gt grandparents are well-established, they all show up in my ThruLines, and the 4th cousins that appear under them make sense.
When I go back to gt-gt-gt-gt grandparents and beyond, it's a mixed bag. There's well-established ancestors, ones who I haven't gone through the process of documenting exactly how I know they're ancestors but I'm pretty sure they are, there's a few that have seem like they could easily be right, but I haven't seen any proof, and ones that I really have my doubts about.
On the whole, it seems to help identify how many of my DNA matches are related, and that's handy, but you just have to keep in mind that it's not perfect, and errors by other researchers can creep in there.
I've had a couple of cases where people had attached their DNA results to the wrong person in their tree. One person had attached to her mother, and I contacted her and she fixed it. Another person attached his result to his father, so he's on my ThruLines as a 4C, when he's really a 4C1R. He didn't do anything to fix it.
The most screwed-up such case is of my brother's fiance. Her mother tested, and apparently was generations off, as fas as where in her tree she attached. So the fiance's mother shows up in her ThruLines as a great-grandmother, of something crazy like that. I pointed it out, but they still didn't do anything last I checked.