For artificial light (or mixed sources, e.g. from reflections), it is not correct. The light source is characterized by its whole distribution (which can be anything) rather than one temperature parameter (for the Planck distribution).
An easy example is a fluorescent lamp spectrum (https://commons.wikimedia.org/wiki/File:Fluorescent_lighting...).
Another issue is that even if you have the perfect photography + post-processing setup, when I see the result it might be on a non-calibrated monitor, or on paper but in a room with non-perfect lighting, and perhaps I was just looking at something else a second before and my brain's auto white-balance hasn't caught up yet. So I might still not perceive it as was intended. This is why that gold dress looks blue to some people.
The patch of grey on the reference scale + good lighting of the scene to begin with will get you 99% of the way, the remaining 1% is extremely hard to get right, if at all possible.
In practice you do 2 anyway (with exposure correction being used even more often than white balance). So I agree that more than that is usually not worth the effort.
From my amateour photography experince - with strange lighting you cannot do much anyway.
Even a scene where there is strong sunlight and a bright blue sky will make white balancing quite difficult, as the shadows are lit with sky blue skylight and the sunlit parts are lit with the sun.
I use darktable and it's possible to correct the blue tint in shadows, but like... it's annoying. And at some point I'd say fuck it and just accept that photography is not a science.
If you care about accurate color, you do use a card with "whole bunch of patches" of different colors. For example, these British Library guidelines on photographing and scanning archival material say:
"An industry-approved colour chart or greyscale reference card is essential in order to check the accuracy of the colour captured in the photographs. This is a physical card that is available to purchase on the internet. It cannot be downloaded from the internet and printed, or inserted into your image using software. Approved colour checkers that have been used in EAP projects include: Gretag Macbeth ColorChecker, QP cards, Kodak Color Control Q13 card, Past Horizons Bookmark Photo Scale."
(https://eap.bl.uk/sites/default/files/Guidelines%20for%20pho...)
ColorChecker (“Macbeth”) Chart: https://poynton.ca/notes/color/GretagMacbeth-ColorChecker.ht...
QP cards: https://www.argraph.com/QP202.html
Kodak Q13: https://www.kodak.com/en/motion/page/color-separation-guides...
Bookmark photo scale: https://www.pasthorizonstools.com/Photo_scale_bookmark_p/boo...
As you quote they get used in archiving but those also tend to be done under well-characterized lighting and if not, it's something that's worth spending the time to tweak every little thing.
It's a long shot from being able to apply automatic perspective and grey-point corrections plus a little bit of tweaking so the colors look "right" (or as right as possible under the wonky spectral distributions of most lights these days).
I did manage to convince the company to buy the transparency so we could calibrate the film scanner's output.
My favorites are from Datacolor or X-Rite.
Is there a standard skin color or something? How do you deal with different skin colors?