Not so much. Capo is a worthy tool for guitar players working the various vocalists who constantly want to change keys and transpose on the fly.
1. I didn't invent the term "cheater bar".
2. Being able to play things in a different key or transpose on the fly is part of being a good musician. Talking electric bass here...we're not horn players, although they should be able to wing it as well. As a former clarinet player, I know it isn't simple as moving a few frets up or down and playing the same "pattern", but it shouldn't be too much to ask.
When it comes to (as stated), alternate chord voicings or the timbre of open strings being important to the sound, yes, it's a worthy tool. If it's a crutch because somebody isn't used to playing in B flat or C# or whatever, it's a cheater bar.
It takes a whole lot less time for a guitar player to just play in the proper key than it does for them to put on the capo, then re-tune (which is inevitably required) just to play a song, then re-tune all over again to play the next song.
Wouldn't things be a lot easier if they would just play in the right key?
Yes...Capo's do have their uses, and the OP's situation might be one of them. They can give a very distinct sound due to open strings and chord voicings. When used that way, they are part of the instrument. When used as a crutch, they are indeed a cheater bar.