I would say most people, most times, in most places, could get along well enough without a compass but I have seen fog, rain, snow, even dense vegetation become an issue. Before you know it you have no idea which way is which. That's when even a button or tiny ball compass earns its keep. The simple base plate models of Silva compasses are compact, light and cheap and are a great investment. Even if it might not be needed for years.

Your not going to be laying artillery tubes or accurately plotting your position to within a couple of meters by plotting azimuths off landmarks like you can with a high quality lensatic but for most survival uses a Silva base plate model will work. I still have the original Silva I learned the basics of orienteering on and it is still kicking.