Absolutely. Another nontrivial variable is the tendency for managers/team leads to get the "credit" for successful work, even if they aren't trying to.

I've had managers before that did nothing but impede a high performing team. Luckily we delivered despite this. But it never failed, the manager would get accolades (often very public) for successfully releases, customer feedback, etc, and would end up promoted up. Meanwhile the team kept doing our thing, getting barely-matches-inflation annual increases and more and more micromanagement from the scrum diehards. Didn't take too long for the team to move on to better things. I have a dream of someday reuniting the super team for a sweet startup idea. Not likely to happen but I can dream :-)