Aggregation is not essential.
I guess this is not really what you mean. aggregation is essential to provide scalability of the routing system, as your draft about ISP multi-homing explains (sort of)
Even if you use host routes, exsiting of a host route does not guarantee that the host is reachable. It may be just a result of misconfiguration.
Routing systems give hint to help hosts make efficient decisions.
Well i guess that the question then is it is worth it...
Note also that this is not the only reason to have full routing table.
The fundamental reason is because it is end to end.
If the table is very aggregated, you don't really have much information
If it is not, the amount of information is huge and it is very expensive for a host to store it