Yes, big time! Not just in abrasives and bits, but as an outstanding heat sink material.
The semiconductor industry salivates at the thought of diamonds flawless enough to used as a silicon, silicon carbide, and III-IV material replacement for high voltage, high frequency high power applications.
So, are you saying that “synthetic” diamonds are just as useful for industrial purposes?
(I’ve never understood the diamond craze; it always seemed like a scam to me. Coloured stones are much more interesting; and if one must have a diamond, the fakes seem indistinguishable these days.)