3rd Party Renderers, what are they for exactly?

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Hey guys, I am a graphic designer that's been learning C4D for the last year and I have some questions about 3rd party renderers. Basically when I have tried out demos I found that it was a pain in the ass to have to transpose an existing scene to a scene that a particular renderer could understand, you know with the arnold materials, and arnold lights, etc. I did see that you can use octane and arnold just to have a super-fast high quality render in a preview window which may be nice for modeling, but I dont think GI is essential for modeling and that was the main speed advantage I noticed. It seems some of these renderers are designed to shorten render times and some are to create visually superior renders that supposedly the native physical and software renderers in C4D can't even compare to. My real questions here is when you consider all of the slider tweaking to reduce grain, and the time it takes to learn how to use renderer specific materials and lights, and the high cost, are the advantages really worth it? I just want to cut render times down when it comes to GI, not try to drastically improve the way renders look btw.