yeah i think its a last-ditch effort to influence the judges, and it might have some effect in some cases. cecil peoples for example, if he forgot to watch the fight he might have to depend on which fighter looks more confident that they won in order to determine the score.
in any case it cant hurt, it also rallies the fans. fighters are there to excite the crowd as well as win.
Objection, Your Honor. He's reciting the opening to Quantum Leap.