Yes. For anything past iron. Also it will make mining go far quicker. The upside of further pickaxes is they mine faster and last longer. The downside is they need a forge to repair so you can't just slap down and cover a workbench like the antler pick. However its easy enough to make a travel portal and pop back home for repairs, though you'll have to take the long way to bring ores back.
For example a basic bronze pickaxe is about 25% faster (more mining damage per swing) at mining than the antler with more durability(which goes even further thanks to less swings needed). Fully upgraded it's almost 100% faster and nearly 300% more durable, meaning it nets you about 6 times the mining before needing repairs.