Pilots adjust their altimeters frequently to known altitudes, because barometers are affected by changing external air pressure.
Setting your barometer to a known altitude at the start of a ride is fine if you are only riding for an hour or so. But temperature and pressure changes through the day on any randonneuring event will mean that barometric elevation change is inaccurate.
I have been using a GPS with a barometer since 2006. It is rare that on a ride where I finish at the same location as I started, that the total climbing is different than the total descending by more than twenty or thirty feet.
Of course, there is the issue that all GPS's and barometers have to measure altitude relative to a hypothetical reference sea level. In principle, this should be the geoid, but in practice they only approximate the geoid, so the altitude that the GPS reports may not perfectly match a DEM, even if the GPS were perfectly accurate.
RWGPS's goal is for its climbing to match what will be reported on a given route by a GPS with a barometer: "With extensive testing, accuracy has been greatly improved so that
planned routes now have elevation gain/loss much closer to what a GPS
unit with a barometric altimeter reports." For measuring actual climbing on a route, a GPS with a barometer is going to be more accurate than a barometer alone.
Nick