Running a node with only outgoing connections is less useful than running a node which allows incoming connections, but still useful.
A node which cannot accept incoming connections will connect to nodes from its peer list, and as such is unlikely to find nodes which appeared recently on the network, since those addresses will propagate through the P2P network with some delay. It will thus be substantially less likely to serve blocks to nodes which are in the process of syncing historical data.
However, your node provides extra edges in the P2P network topology, which helps provide redundancy when relaying transactions and blocks (which are indeed relayed, contrary to the false claim in the other answer).
If you have the bandwidth for it, you can also increase the default number of outgoing connections (it defaults to 8, but the --out-peers option can set it to higher values). This will increase the number of edges in the network, similarly to what would happen if your node were to accept incoming connections (though would still be less likely to connect to nodes syncing historical data).