mad black said:
Cool down prevents lactic acid build up and aids recovery. No one is forcing you to do it but you should.
BL does not "build up" when doing nothing, and will clear quite quickly of its own accord once you stop vigorous exercise.
A very light spin can marginally increase the rate at which blood lactate is cleared however the evidence on this supposed benefit is equivocal in any case. Typically the time between exercise bouts is way longer than what the body will need to passively reduce BL to resting levels anyway.
Reducing BL levels is not the main reason for warm downs.
Active recovery is meant to help reduce muscle soreness and DOMS (which are unrelated to BL) and improve range of motion after exercise. However, the evidence is mostly anecdotal. There isn't anything to suggest it is harmful to performance either.
It's pretty much just a nice way to wind yourself down, perhaps finish off gels/sports drinks/food you haven't taken on board during hard exercise and feel good rather than smashed when you get off the bike!