The Skyscraping technique is essential because of the following reasons.
1. The content is already doing well, and in demand, and by revamping it, you have a better chance to rank on search engines.
2. By revamping the already popular content, you have a better chance to attract an audience that is already interested in that type of content.
3. If you create content that is better and more valuable than the existing one, you can easily outrank it on SERPs.