Yes and no. Sometimes it depends on the component. For something like that it wouldn’t cause an issue. In the past you’d have specific image effect components that would be affected by the placement of the components. So if you had one image component over another it would “process” them in the order they were placed.
For the most part this is somewhat rare as I haven’t really seen it happen outside of that unique instance and image effects in that manner are no longer used.
