Only if you're interested in getting lower case/gpu temps, want it silent (while keeping temps low).
Fact is, cars and many other things are water cooled for a reason, as heat exchange is better than with air.
I prefer it over aircooĺing as i can run a 240 with inaudible fans while cpu is under full load (100% with prime95), which will cost similar if done with air, especially if i want it silent (no sound from the pc at idle/low load).
2nd your removing the cpu heat without dumping it inside the case, which in return lowers case temps by about 30C, and helps lowering gpu/chipset temp.
Usually aio arent a higher risk, ive had more ppl (friends/family/customers) kill a cpu because of problems with the air cooler, zero ppl with leaks (installed properly) Build about 100 rigs and fixed about 1000 in the past 20y, so im not talking about a handful of computers.
And with companies like corsair offering not only 5y warranty, but also covering ANY hardware that gets damaged if it dies/leaks, makes it a no-brainer for me.
And good air coolers/fans arent that much cheaper in most cases.
Also has less restrictions for airflow (components next to cpu) as well as what ram can be installed, where some air coolers might require low profile ram or might even block slots, not even talking about cases.
If noise/higher gpu temps (mid/higher end cards) isnt an issue, dont worry, otherwise spending a bit more can make a bi difference, even when looking at dust build up.
Because of the lower rpm, i now have less dust inside running pc for 10 month, vs before i had to clean it at least every 6 month.