In my opinion (mind you, I've not been doing this long, only 3 years) - it has plusses and minuses.
The plus: The law of energy balance, which means a calorie is a calorie, and to lose fat you have to just burn more than you intake, or to add mass you eat more than you burn. So you can eat whatever you want as long as you fulfill your macros.
The minus: Sure a calorie is a calorie, but even still, shitty foods can make your health shittier. Fast food might make your calorie count but it's going to fuck with your cholesterol. The lack of good micronutrients in a lot of processed foods will harm your performance, but not your waistline.
What I try and do is eat to my macros, and I try hard to make sure that 80% of what I eat is good clean foods (meats, raw /steamed veggies, fruits, grains) and 20% is junk (pizza, take out chinese food, frozen yogurt, candy, pie. I love pie. Goddamn do I love pie). And if I am going to have a desert, I try to make it myself from scratch so that I know what is going into it.
Just my two cents from my limited experience. But it has helped me go from 30% bodyfat to 13% before I started using AAS, so it worked for me.