It’s everything but meaningless. It’s actually the only solution we have. Add dhcp reservation and you have closses thing to static ip until homey gets true static ip if that ever happens.
In years I’m using homey I never ever actually needed static after I have created reservation. Nor did homey ever got anything but the reserved ip as that would mean my router and dhcp are not working properly.
Take what you have and do the best you can with it.