For normal lighting, yes.

For bizzare or novel light, no.

"Normal" means sunlight or incandescent lighting, or other lights that try to immitate that (since it's what our eyes work with). Poor "color rendering index" lamps will be lacking but that's how it looked in person too!

For odd colored lights, you need more data points to know just what is happening, and you still have underlying ambiguity: correct for blue lights and you don't know if the object was supposed to be blue or was grey.

The color is subjective in photography, since we're not making scientific instrument readings. So you end up adjusting the actual green leaves in the picture to match the impression of the live scene, and don't need a formal green folage patch on a color bar.

A color chart can be handy for matching across different shoots, calebrating the camera profile, and learning about the camera's response; and of course in understanding "nasty" lights even if you don't rely on automatic correction based on them.

I found the x-rite "passport" useful for those reasons. And I could still pull it out if I wanted a reference for (e.g.) heavily-filtered stage lighting.