That's exactly what weapon finesse does. It's not the greatest feat, no, unless you are going for a dex build, which, all things considered, aren't exactly top dogs. You're probably better off increasing STR and putting on bigger armor, unless you're going for a arcane caster, since THAT doesn't get negated easily.
Of course, this is speaking very broadly, and perhaps weapon finesse is a great feat for your particular build, but usually, 15 dex is more than enough for any endeavours you may undertake, and that's only if you want to dual wield. Clerics can pump strength to 18 automatically with a certain spell, and almost all other classes have some way to get higher strength than that, not counting that +str items are quite plentiful in all campaigns (as are +dex items, to be fair), so you don't really need dex to affect attacking. Again, remember, this are broad terms, and may not be a ccurate for a fairly large amount of builds, so take it with a grain of salt