I have a couple of webers and no every once and a while when cooking a fatty ribeye or chicken thigh with skin on I would miss a big flare up and burn my food. Some times Id catch it and it would work to my advantage adding great flavor. Until one day I goofed up and had enough on flare ups.
So I bought both grills a set of replacement grates from an American company called Grill Grates. I was skeptical at first but after my first use I was a believer. They cost the same as the cast iron grates from weber and they cook great. I even smoked a pork butt on them to see how they did there and the results where awesome.
So my long winded response is yes, flare ups are flavorful if used correctly but who needs them when you can get great tasting steaks with perfect sear marks that never catch fire. Here is a link
https://www.grillgrate.com/
Also the yellow squash was a afterthought. Girlfriend insists that steak alone isn't healthy.