Is playing bullet is good to improve chess skill?

Can you point out for me some advantages in playing bullet?

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Generally, the answer is NO. Activities that improve your chess skill would go something like this (more or less descending by importance):

1. Studying openings, midgame, endgame.
2. Playing long games.
3. Tactics.
4. Blitz.
5. Bullet.

Each of the above have their pros and cons. Playing long games and solving tactics give you the ability to deep think and recognise patterns in positions so you can use them next time as well. Playing bullet on the other hand, uses your intuition and learned knowledge about the game to make fast but accurate moves.

TLDR: To be good at bullet you must be really good at chess. Playing bullet will not do much for your chess knowledge but use more intuition and energy for fast calculations.

P.S.: I love bullet because it is intense, but that has nothing to do with learning.

My speed and eye for spotting 2-3 move combinations  improved a lot after playing lots of bullet. Not 1/0 bullet, but 2/1 and 1/1. For deeper calculation, long games is better though.

Only if you play as quickly as possible, and always try to win on time.

Of course not. Playing bullet only makes us fun. Unless that, it is harmful, because when playing bullet, we can't think deeply enough for our moves, so our moves aren't very good. Playing bullet and thinking quickly (but not deeply) too many times can be the habit.

On the contrary, when we feel sleepy and want to be lucid, playing bullet is a good way! But only five games or fewer, because if playing to much, we will addict it.

Have fun and enjoy chess! 

I think playing fast without calculating thoroughly develops a bad habit.  Playing on my phone just for fun has not made me better at chess.  I think it has caused me problems with moving too quickly even if I am not in time trouble in longer games.  

I am definately handicapped when I rush, lots of aggravating mistakes.