Business Regulation: How Necessary is a Governing Law Clause in Terms?

My question involves business law in the state of: All states.

This question is specifically about policy notices on websites such as terms of use, privacy policy and disclaimer.

How important is it to have a governing law and jurisdiction clause. I've looked at a lot of policies on a lot of websites. Some have a governing law and jurisdiction clause. others do not. I know nothing about the law but researching online, this is how I understand it. A governing law and jurisdiction clause specifies which laws and jurisdiction will be used to settle disputes. Without that clause jurisdiction is where the parties are. Since it's hard to sue someone in one state from another, the suit generally happens where the party being sued is. You can't sue someone in Wyoming in a Florida court. So without a governing law clause, doesn't it effectively default to the location of whatever party is being sued? So unless someone what's to specify a different state, for example they are in Wyoming but what to use Nebraska law and jurisdicton for some reason, is it a necessity to have a governing law clause?

Business Regulation: How Necessary is a Governing Law Clause in Terms?