I have a drill doctor and touch up my bits when they get dull. I don’t feel like it does a great job, but it’s easier than buying new bits. For example, you dull a bit, the choice is run somewhere to get a new one, order one and get it in a day or two, or just run it through a DD.
Small bits are hit and miss. The way the DD indexes a bit gets more questionable the smaller you get.
Of course the easy answer is to just stock up on common sizes, but I have not found decent bits I feel good about buying. Still have some ”good” bits from 40+ years ago... but I also have some crappy bits from 40+ years ago. I’m sure there are some good new bits out there, but I don’t know where to find the sure thing.