It's worth mentioning that most of what people probably imagine a power conditioner doing is actually baked into the design of a modern SMPS.For the most part, yes.
I read an APC white paper several years ago which described all the things the so-called power conditioning in a basic (standby) UPS didn't cover. It was mostly an explanation of the conditions a SMPS is supposed to be able to handle on its own. I don't remember the numbers, but I do recall thinking it covers any conditions where I would feel safe plugging in gear of any kind.