To me, the value of studying design history and designer biographies is that it is a reminder that all the designs that seem so fundamental (like Helvetica) were once just sketches in a sketchbook. Learning how things came into existence, and the creative processes behind them, helps you realize that you yourself have the possibility of doing the same thing. And at the same time, learning about the ideas and methods oif other designers is a sobering reminder of the amount of work and level of ambition that are actually needed to get there.
...and then later on:
You probably don't need to study Helvetica's history in order to use it successfully. But if you want to create tomorrow's Helvetica, it is probably a good idea if you do.
- Nille Svennson, Sweden Design, as seen in Emigre No. 65
Much thanks to David Hobizal for sending me this awesome quote.