Which is, actually, far too large due to the standard library, program state initialization, and stack frame management. If there's ever a practical use for code golf, this is probably it. /bin/true should be a bare minimum ELF executable with no stack or heap that does nothing except immediately make the system call to terminate.
Well this code might do exactly what you just said.
Everything depends with which compiler flags you build this code. I know for sure there are MSVS flags to build this program with no runtime and other things with just return asm op in it.
Needing a program that returns true comes up more often than just shell scripting. For example, maybe a system reports an event by launching a named executable. Specifying /bin/true is the equivalent of redirecting that event to /dev/null.