Sure, as I have done. But there are people, rightly or wrongly, who feel intimidated by directly editing the Registry, so an executable that simply is a one-click operation to make the changes, as well as the fact that it doesn't need to be installed to run, is good for their needs.
Still, yeah, making and running a .reg file as you've shown will do the same thing, and a little editing will give you a .reg file that'll do the opposite if you so wish. Plus they learn something. But viva la choice and all that.