If you don’t go under maintenance (which is likely to get you a v8 and in the meantime support and 7.5) probably not. 7.5 is a release that was meant to reward maintenance even before the acquisition, and for Soft .5 releases are small, anything with big improvments are .0s.
If you plan to go under maintenance then yes, it’s actually an ok release, and scenes are backward compatible (other than a couple ops you might need to freeze and a newer MRay which could leave to backporting a scene rendering very slightly differently if you were to mix rendering nodes).
Basically too big to be just a bugfixes minor, but not really much in terms of bling features. Think of it as a 7.2 if you’re not used to Soft’s numbering.