Since retiring from the real world I work part time at a factory owned Trek dealership, assembling bikes ranging in price from about 700 bucks up to about 18000.
We have a large number of quality torque wrenches covering varying ranges, they get used a lot.
Back when bikes were made of steel ( wonderful stuff that) you could torque the daylights out of your fasteners, secure in the knowledge that if something did let go it was usually the fastener or your cheap wrench (resulting in busted knuckles)
With the coming of aluminum and then carbon fibre reinforced plastics (lets call it what it is) its can be quite difficult to assure a critical fastener is tight enough without exceeding the ability of the supporting material to take the torque. We regularly get bikes through the shop which have been damaged because a timid home mechanic didn’t tighten something enough, leading to an assembly falling apart, or the bike is damaged because some ham-fisted type ( used to steel bikes I suppose) has over tightened something.
My favourite is carbon framed bikes ruined because somebody overdid the seat clamp and cracked the frame, love that one.
I currently own four torque wrenches and use them regularly... except on my steel bikes.