Yup.
But if I ddn't use snipe, and came in early with my bid, and outbid you at $102.50, you might come back and reply with bid up to 105. Then I must increase. But if I "e-sniped" with 110 using 5-second buffer, I'll save the 'bidding war.'
Also, sometimes other ebayers only notice an item, or become interested in an item because it has a bid on it - but if you didn't advertise your interest by showing your early bid, you can snipe against <zero bids> listing and win at original listing min bid. Sometimes the presence of other bid(s) helps nudge a borderline buyer into deciding the item is worth bidding on.