Depends upon bag style.
On hobo or messenger bag, look dumb, imo.
On any bag I set down or handle carry, as structured tote, yes.
Because I neglect both to use bag hooks & to inspect surfaces where tossing stuff.
Feet are my tiny nubs of hover safety. Between leather & pink cake crumbs.
I need them. Some of my bags have 5 feet, just to be extra wary.
I only like them on structured handheld bags. Doesn't make sense to me to have the feet on a bag whose leather is soft. Looks great until the bottom sag due to the nature of the soft leather. Or base is too wide and a heavy load will bend the bottom downward.
I'm a guy so please take that into consideration, but I do prefer feet on a tote bag. Speaking from experience, though, I've seen plenty of bags with feet that end up having significant wear on the corners. Feet don't do a great job of protecting them as corners can sag below the level of feet. I'd rather see reinforced corners than feet.
As other have said, I prefer them on structured bags. But it's not a deal breaker.
I don't usually put my bags down on most "unknown" surfaces. My bags will sit on my car seat or on a sofa. But when I'm out and about, I use purse hooks. I have fallen in love with and swear by this brand, The Hookup. https://fafaconcepts.com/
They come in silver, gold and gunmetal so they coordinate with bag hardware. Usually I just throw one in my bag til it's needed. But sometime I wear it on my bags and it looks super cute.
But most importantly, are super sturdy and keep the bag from falling. (Photo from Google)