Worth retagging Compilations / "Various Artists"?

For the longest time, I’ve been tagging my library like this, even for soundtracks. I am a bit of a metadata and organization snob

• Track Artist: Actual Performer
• Album Artist: Actual Performer
• Compilation Box: Unchecked

I thought being specific was better, but now my Artists view is cluttered with hundreds of artists where I only have one song from a soundtrack. It’s making it impossible to browse.

I see a lot of people recommend switching Album Artist to “Various Artists” and checking the Compilation box.

Before I go through the headache of retagging everything, does this actually clean up the Artist tab? I basically just want to stop these albums from splintering and showing up under every single contributing artist.