I haven't been diagnosed (yet), but I strongly suspect that I fit the criteria for Bipolar 2.
Based on my experience with what I believe to be hypomania, I think it does need to be controlled.
My symptoms usually manifest on the negative side of things in the form of increased irritability, agitation, and anxiety.
However, I have twice now experienced semi-classic hypomania. My sleep was not as disturbed as it usually is in most descriptions I have read, but everything else was pretty spot-on. My mood could only be described as buoyant, everything "finally all made sense", my productivity skyrocketed, charisma was effortless, everyone was more attractive physically and psychologically than they had any right to be, and I had a sustained hope for days on end that my success in life was assured. My mind raced with ideas and fantasies and hopes nearly 24/7. I felt smarter. Maybe I even was.
Sounds pretty fucking great, right? Looking back years later though, I realize just how much I was blinded to the consequences of my decisions then, blinded to the obvious shortcomings of the people around me and myself, blinded to just how unsuitable my chosen career was personally and practically.
And that year of bliss was followed by the worst depressive episode I have ever experienced as all that deluded hope came crashing down and I began to see my life for what it really was. I don't have a crystal ball or a time machine, so I can't know - but I don't think I would have crashed so hard if I had not been hypomanic, and I would have had more time to plan what to do.
As it was, my family rescued me before I killed myself, and I threw away the efforts of the past 7 years: all that time, effort, and youth down the drain with nothing to show for it.
When I felt that same heightened energy and racing thoughts for a week or two this past year, I popped Seroquel and forced myself to adhere to a strict sleep schedule. Just like that, voila, all the ideas I had that seemed so iron-clad revealed themselves to be paper mache.
So, to sum that wall of text up, I need to control my hypomania because I believe and do unreasonable things in that state. If it's a long enough time and a warped enough perspective, the effects of my poor decisions can be felt for years.
You may find the website psycheducation helpful. I have an even looser interpretation of the DSM than he does, but I found articles by the psychiatrist who founded the site helpful. He takes a spectrum approach to bipolar and has practical advice for how to manage it with less or no medication for those of us in the awkward gray area between major depressive disorder and more prototypical bipolar.
https://psycheducation.org/blog/bipolar-diagnosis-spectrum-or-yes-no/