There is a minor sidequest that has alternative text/solution if you've actually read the book.Do I need to read Luck is a Skill book? That takes so many days.
So it most definitely is *not* worth reading.
However, owning the book is one way you can avoid a corruption scene at Arwin's mansion. When spying at the mansion, you can waltz upstairs and hand the book to the maid that's preventing you passage there. Otherwise you'd have to go through a corruption scene involving taking drugs or hand the maid a valuable luck-enhancing item.
As for your earlier question about mental changes, in the OP there's a link to a maximum lewdness walkthrough, which you don't need to follow, but it does contain a somewhat thought out order for doing the mental changes, which avoids you bottlenecks in real world events that open up further mental changes. IIRC removing one of the books in particular was important to do ASAP, because there was a long delay after removing the book, until the event caused by it's removal fires in the real world.