Sure. Having helped write the L2 twice, I can say for sure it's a totally different kind of test. It's like the L2, but for much lighter trucks (and diesel cars) whereas the L2 is a midrange/heavy test.
Also, unlike the L2, it lacks a composite, which means many more systems are discussed, where the L1/L2 largely cover the composite vehicle, as you've said above.
I'd say take it once, you'll realize there's a whole other world you may not be aware of. The best part about the ASE tests isn't whether you pass or fail, or the cute little thing you get for your wallet or wall, but the SCORECARD which helps show you the areas you're not so strong in. It should be worth taking for this reason alone.