The ending of Ant-Man and the Wasp resolves the family story and then, in the mid-credits scene, ties it to the wider saga. In my opinion, that is the real answer to "what was the point of Ant-Man and the Wasp?"
On the surface, the point is simple: Hank and Janet return from the Quantum Realm, and the Pym family is reunited. Janet gives Ava a measure of her own energy so that Ava is stable for the time being, and Ava and Bill go into hiding. Scott finishes his house arrest as Woo, now suspicious, has to let him go, and Burch and his crew are arrested. It could be argued that the film treats Ghost as someone who needs help rather than someone who needs defeating, and that is my reading of why she is the most sympathetic figure in the story.
The film is also a bridge. The family plans to send Scott back into the Quantum Realm to gather more energy for Ava, and that plan is what ties the film to Avengers: Infinity War and, later, Avengers: Endgame, where Scott escapes the Quantum Realm and learns that years have passed outside. Paradoxically, a small, light caper ends up supplying one of the key ideas for the saga's biggest film.
So, did it happen before or after Infinity War? In chronological order, Ant-Man and the Wasp is 20th, right before Avengers: Infinity War at 21st, even though it was released afterward. That is also why the mid-credits scene lands during the Blip. My pick for new viewers is to watch it in release order and treat the ending as a pleasant shock rather than a spoiler.