If you shoot only with the newer stuff and never intend to use any older manual focus film cameras, it might be.
I don't believe it is [for me] for three reasons: one - it costs Nikon less to manufacture a G lens, since it lacks the aperture ring and the mechanism for it. Charging $200 more and making it more inexpensively is marketing hype to try to convince people it is better. Two - it has more linear distortion and more barrel distortion than the D lens, so if architecture or images with linear patterns is part of your composition repetoire, get the D model since it has visibly less distortion. Three - It doesn't use standard 52mm filters, it uses 58mm. Why the non-standard size?
It is the lens, if you own a D40/D40x/D60 and want auto focus. It has one other 'feature' over the D model - If you elect to focus manually, you merely have to touch the focus ring and index it as needed. The D model requires one to move the slide switch from Auto to Manual before.