Why is it a waste of time? Because it didn't do anything. The database is where 99% of the applications data is stored. All of your configuirations, addons, templates, styles, etc are all in YOUR database. Doing a fresh install installs the default data into its own database. Not your current one.
Did you start a ticket or a forum post? The bug tracker is supposed to be used for reporting reproudeable bugs, the asset manager not working for you is not nessarily a bug.
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