Yes, but it creates unrealistic expectations AND large spread of actual CPU behaviour over different machines with different cooling, which in turn creates more and more confusion.
The funny thing is, we have had diminishing returns with CPU tiers for years. Higher-end models were barely 5% faster in real life while being more expensive, and it didn't really bother anyone. But since Coffee Lake, everyone is like crazy fro some reason, every if the factual situation didn't change. I blame the marketing, at least in part. The i9 has such crazy high clocks — but these clocks are actually not attainable on a majority of laptops. Instead of seeing this CPU for what it is: a part with an essentially open-end turbo frequency, people are focusing to much on the potentially reachable performance instead of reasonable performance.
IMO, Intel should have called this part an i7-8950H (just like it was the case with all the top-tier CPUs before), and set the to frequency to much more reasonable 4.5 Ghz. This would have avoided much of the unhealthy hype and speculation we have now.