While it's easy to point to the Blue Fairy's words and say that Pinocchio reflects the importance of being brave, truthful, and unselfish, the story was originally intended to act as a warning against bad behavior.
In the author's original magazine serial, things did not end well for little Pinocchio. In fact, his bad boy attitude and disobedient shenanigans led to his eventual execution. Did someone say firewood? Of course, fans didn't like that, so C. Collodi then resurrected his naughty protagonist.
At the time, it wasn't uncommon for Tuscan folk tales to include morals for children. In this case, disobedience gets one nowhere, lying is not wise, and respecting and honoring one's parents ends in reward. So yeah, the Blue Fairy — or the Fairy with Turquoise Hair, as she's called in the novel — was onto something.