Yep.
But if you seat them deeper gradually, as when adding powder, you'll notice the velocity starting to rise.
On the other hand, most rifle/load combos will improve in accuracy long before bullets are seated even 1/4" from the lands, much less 1/2".
Mule Deer, is this true only after you have seated way deeper past the point where pressure starts going back up
or is the opposite true when seating at normal seating depths, like from just off the lands to .250" or so?