I have edible bamboo, but I always leave a bunch of full grown culms over winter as they are important for providing nutrients to the new growth in the spring. If there is no root attached, my variety (Phyllostachys dulcis) will not root even if it's fresh, but I am aware that not all bamboos are created equal! I suppose that by removing all growth in the fall, it might help slow down a potentially "invasive" variety for the ecosystem it's planted in.
However, like Scott, mine gets used for everything - banty perches, building material, fencing, garden stakes ridgepoles for tarps, and more. So long as the sections are cracked, it even can be used as
firewood (you don't want closed sections exploding!)
Some varieties will last longer than others, but I've generally found mine lasts longer than what I was told.