I've tried multiple different therapies. Haven't found one that helped but I know for others it really has. For some it's life changing, others it helps a little, sometimes it makes things worse. It can take time to find the right therapy and the right therapist for you. So if you do try, don't expect the first one to be a cure. If it doesn't help, it might not be the right fit so i'd give it at least another shot.
If someone has never tried it and think it might help, what's there to lose though.
I've been on a psych ward once, not by choice. I hated it and didn't find it helpful. It wasn't horrific, it was just lonely and boring. Again people have mixed experiences.
But even if it helps, they can be difficult places to be so i'd try therapy first. However, if you want to live but really can't keep yourself safe then a short stay might help. Just be aware if you go in voluntary, in some countries they can change you to involuntary/sectioned (committed) if you try to discharge yourself before they think you're ready.
I've given up on any more treatments, I don't take meds or go to therapy anymore. But that was my choice after trying many different treatments over the years. I'd respect anyone who makes that same choice. I can't tell anyone what to do but if anyone hasn't given any treatments a try, then i would encourage them to give it a chance. However, all treatments have risks and benefits to weigh up so i understand it's a personal choice and I wouldn't push people into it if it's not something they want.