If you are setting _every_ setting manual than yes... it's redundant (on any camera).
This is because there are only three things that camera can change to adjust exposure (ignoring flash output power if using flash) and that's ISO, shutter, and aperture. So if I dial in... say ISO 100 then I *expect* the camera will use ISO 100 no matter what. If I set the aperture to f/8 then I expect f/8 no matter what. If I set the shutter speed to 1/125th sec then I expect it to use 1/125th no matter what. If I set ANY of these to an auto or semi-auto mode then the camera can adjust them... but your example didn't call for use of any automatic settings.
Some camera's let you do exposure compensation by ISO ... you can use manual mode and dial in your shutter speed and aperture settings, but you can set the ISO to 'auto' and exposure compensation will adjust ISO in response to your exposure compensation. Not all cameras support this so this isn't a universal truth in photography.
But the example you gave was that even ISO is manually set and in that case... exposure compensation would have no impact on the exposure.
Exposure compensation is usually used in either Program, Aperture priority or Shutter priority modes. As has been pointed out... many cameras don't even allow for exposure compensation use if the camera is in Manual mode.
To flip this on you... what do you want your camera to do?
If you want it to apply exposure compensation, then you also have to decide what it should be allowed to adjust to apply the compensation (shutter speed, aperture, or ISO).
If you want it to adjust shutter speed, then use Aperture priority mode and a manually set ISO. You've now limited the camera's choices so that the only thing it can change is the shutter speed.
If you want it to adjust the aperture, then use Shutter speed priority.
If you want it to adjust ISO then first make sure your camera supports exposure compensation via ISO, then select Manual exposure mode, dial in the shutter and aperture you want, but set the ISO to "auto".
Keep in mind that camera has limits to the range of available apertures, shutter speeds, and ISO values. So if you are already at or near the limit of a value range then it may not be able to apply as much exposure compensation as you want.