Can you elaborate? Part of my everyday life as a coder is downloading packages and building them, so I'm curious how this brings more to the table. I flipped through the book (http://www.linuxfromscratch.org/lfs/view/7.1/) and couldn't tell..
It's great that the Linux world has become so sugar-coated, and typical build instructions for source packages nowadays can be as simple as a list of apt-get packages to install followed by "./configure && make && sudo make install" but this glosses over an awful lot, and turns your build and runtime dependencies into a black box.
When I used Ubuntu, I'm not sure I ever even needed that.
So if you know how to build and install regular software, you might still be interested in cross-compiling and creating a tiny Linux kernel and rootfs you can boot in an emulator like qemu. You can either use glibc and GNU userspace or use ucLibc and busybox, or perhaps glibc+busybox.
If you already know how to bootstrap a Linux system, then you can go through the book and build a few dozen packages by hand and sooner or later you will learn to appreciate the efforts of Debian (and other) package maintainers go through.