Without a doubt! In all honesty, the best use of "essential recording lists", if they are properly made up (meaning of course, done the way I would do them! ) is to check to see if you're missing something you might like. Meaning that if you go through a list and say "hey, I've got most of these, or at least a representation of them, but none of these Big Band things", and you haven't tried and rejected Big Band stuff, it might be a good idea to explore the stuff a little. I know some people only like hard bop, for example, but if that's all the jazz you've tried, a list might prod you to check out some other facets of the music. Of course, I'm assuming this is a good thing...
As far as using a list of "The 100 Most Important Jazz Recordings of All Time and You're a Chump Monkey if You Don't Have Them!" as a shopping list, it just wouldn't work, unless you're just putting a shelf together to impress someone without knowing what you're doing. Like that ever works...