Today's videographers are shooters, editors, producers, scriptwriters and title makers. You might be good at one skill, but not another. The game "Type:Rider" is fun and helps teach the basics of typography.
If the average video producer made a list of the key elements for a great project, the list would probably start with capturing great images, and hopefully include getting good audio, having great content, and maybe even getting good performances from talent. However, you're probably not likely to find solid supporting graphics on that list.
It's been said that "necessity is the mother of all invention", and there's no better example than the skateboarding industry. At a time when little funding for their industry was available, they created magazines, artwork and videos with a DIY asthetic that would make Etsy.com proud. Today, if you've seen the film "Where the Wild Things Are" or caught that Chevy Sonic "car kickflip" ad during the super bowl, then you've seen firsthand what the action sports creative community has brought.
Movie titles, lower thirds and video bugs are a great way to add a professional element to your videos, brand your product, and enhance the viewer's experience through additional information. However, if not done properly, titles and graphics can have the opposite effect, resulting in your video being labeled as the work of an amateur.