Waze is OK but you'll need an overall intuition of your route and not follow it blindly contrary to how many people use their GPS. Imagine heading north on a highway and needing to get on an intersecting highway going west. Often it'll tell you to "take a left" onto the other highway forsaking the reality that you should veer right and take the cloverleaf exit. It will also give routes that don't exist. Again with the intersecting highways: imagine the two aren't connected where they intersect. Waze may go ahead and route you through an imaginary exit.
But know your route and Waze can be helpful and even a little fun.
What you should do is use the button to mark that as a bad turn. Then it will get flagged in the map editor, and anyone who's in there will see it and can fix the roads. In my local area, it's had drastic improvements in just the last month or so.
What's clever is that they also generate automated suggested corrections. Like a local intersection has a little cut-through side road to turn right. It isn't on any maps, but people obviously take it, so Waze noticed a lot of people driving off road there instead of the suggested route, and flagged it as a possible correction.
Waze just seems to me like so much smarter a solution to GPS than the traditional providers. They actually use the two-way features of the phone in a way that a traditional GPS system will not.
Using Google Maps I wish there was a "chatty" setting that would just say "you're doing fine" every minute or so on long freeway stretches. It's really not fun to hear "GPS signal lost" and not know how long you've been traveling without it tracking and whether you just missed the exit.
Also, in a strange town traveling down a road for the first time in a rental car at 40 mph I'd like to have another 2 or prompts about which direction I'm going to be heading so I can get in the correct lane.
I think the general issue is that most routes start or end at home on familiar roads. If the navigation software is getting those wrong, it makes me distrustful of how it will do on unfamiliar roads.
But know your route and Waze can be helpful and even a little fun.