It does. The only thing in the IEE tree that does not is the conversion on the base skill.
Dying God is honestly pretty bad for pets when looked at in isolation (as far as T3 devotions go). Mogdrogen always is better offensively, even for Chaos or Vitality builds. The thing that Dying God does have going for it is that it can be realistically paired with Hourglass (Witching Hour) or with Ishtak (almost everything else).
A devotion setup like this would be better offensively than Ishtak/Tree, but worse than a normal Mogdrogen setup. It is possible to take Mogdrogen at the same time as either Dying God or Ishtak, but only on extremely narrow devotion paths that leave you handicapped in other ways.
For elemental builds I always prefer Mogdrogen, but on other builds I use Dying God + Ishtak fairly often. It’s flexible enough to allow a variety of other supporting or RR devotions to be taken. That said, the upcoming duration reduction is going to make it less attractive on any non-chaos/vitality builds.