No, just because of what is implied with catching angler, you need to catch the previous biomes fish to make the bait...and to catch that fish you need to catch the previous biomes fish to make the bait...and to catch that fish you need to catch the previous biomes fish to make the bait. You will need to do this each time you run out of bait.

So you're spending days just catching fish just to make bait, when you could just farm and kill some things and be ready in a fraction of the time. If they added more types of fish food along the way to angler, or heck, let you craft more fish n bread based off the level of the Angler, I could see fishing being worth it. As iis however, it's a meme.

If you can consistently find a way to make them wash up to shore with a trap, you could do that, but that also implies waiting around doing nothing in the Mistlands staying within render distance so that can happen.