It certainly is a good thing.
My cats are microchipped. The last time Thomas was injured by a car, someone took him to a local vet who telephoned us because of the microchip.
Years ago, though, my son said that microchipping was the thin end of the wedge because, ''First it's pets, next it will be children''.
All very sinister and Bib Brotherish. So we didn't bother. Then one went missing, we were lucky that we managed to locate him (it was Thomas, always is), once again at a vet surgery. After that we had them all chipped and sucks to what young offspring thought. That was a long time ago, the cats are getting old now.