No, you didn't understand. With fair scheduler, two containers at 100% will have very close to 50% of the host each. Without it, the results may be far away from 50%/each.
Again, this scheduling makes sense in a resource (CPU) scarcity context. The fair scheduler will try to allocate fair CPU quantas to each container, just like the process scheduler does it for system processes.
If the total CPU load is <100% it has no impact.
If you have some containers that need maximum performance in a full load context, then you will need to set their units to a higher value than that of the containers that have a lower priority.
Disabling scheduling when you NEED scheduling (e.g. max performance of some containers) is a wrong choice.
This is not an artificial performance bottleneck for your containers. It is a needed feature if you care about performance.
Re-reading your original question makes me say that you are in the same place, so the best way would be not to touch it and find if you really need it in real life.