Ryan, that's correct. Running exclusive is often useful as it prevents a user using all the RAM with (for example) 4 cores then someone else jumps onto the other 28 (or whatever) and everything slows down.
Disciplined users are also useful: we launch jobs to fill a box, so multiples of 28 or 32 to avoid wasting cpu with a 36 core task. We may also run 4-10 core tasks but that "wastes" the remaining cores.