As long as you have a stable and well-made target that contains color patches relevant to your intended use, and you have the appropriate patch data for the target, it does not matter what target you use to make your profiles. The opinion that one is better than the other appears to be based on workflow simplicity (i.e., "there's an app for that") compared to the usefulness of the target.
The ColorChecker has been around for a while and seems to do the job in a variety of situations - the CCPassport is just a compact version of it, with some more color patch options for white balance and exposure evaluation. I would think that it is not a waste of money - especially given the convenience and the built-in case construction, as well as the spectrally flat white balance target that is included - I've used it for both DCP and ICC. Whatever you choose, make sure you learn to shoot it properly and use it as the software intends and you should, hopefully, get the results you require.
kirk