I have always done that until recently, and the minnow certainly stays alive longer, but it's not uncommon for the bass to attack and tear the minnow off the hook without getting hooked. Generally using 3-5" shiners. As I get older, I don't like just feeding fish as much, lol.
Since I've been using my homemade mono rigs, the 'strike to hook ratio' (just made that up) has definitely gone up. Maybe the whole wire idea is overthinking it, even for toothy fish like walleye. I don't ever recall losing a walleye because I didn't have a steel leader. A muskie once, but my gear wasn't up to it anyway. Medium light spinning w/8 lb. test.